Ripple Escrow Unlocks 500 Million XRP, Adding New Supply in May

Ripple’s account unlocking program recently released an additional 500 million XRP to complete the 1 billion quota in May.

The ledger system posted two unequal transactions of these XRP tokens yesterday, 16 minutes apart. On-chain data shows that the first transaction occurred at 08:28 PM (UTC) and involved the release of 100 million XRP worth $53.38 million.

After the initial transaction, another 400 million XRP worth $213.9 million was released, for a total of 500 million XRP. Both transactions directed the tokens to the same address, which, according to the latest reports, still holds the tokens.

It is worth noting that the address previously transferred 500 million XRP back to the account, contributing to the 800 million tokens re-locked by Ripple this month. It’s worth noting that Ripple’s account unlocking program only released 500 million XRP on the first day of this month, which is a deviation from the typical pattern.

Interestingly, after releasing 500 million XRP on May 1, Ripple went on to re-lock 800 million tokens into its accounts, as revealed by The Crypto Basic. Now, the latest release of 500 million XRP brings the total number of tokens unlocked from the ledger this month to 1 billion, effectively balancing Ripple’s ledger unlocking plan for this month.

Unstable Ripple Account Unlocking Plan

This erratic pattern of account execution has persisted throughout the year, with only January witnessing a typical Ripple account unlocking schedule. Last month, Ripple executed a release of 500 million XRP on April 1, followed by an additional 500 million tokens 11 days later.

March recorded a similar pattern, only 500 million XRP was released on the first day of the month. In February, Ripple’s account unlocking schedule also deviated, with the company releasing only 600 million XRP on February 1, followed by 400 million XRP on February 25.

While the XRP community typically expects 1 billion tokens to be released each month, this year’s irregular schedule has increased concerns about potential price volatility. However, there has been no noticeable impact on the market as Ripple has consistently re-locked 800 million tokens every month.

It is worth noting that XRP is still in the process of recovery, having gained 5.85% this month to make up for the loss of 20.44% in April. XRP surged to a 9-day high of $0.5367 yesterday before coming under bearish pressure. It is now trying to hold onto the psychological support of $0.53 and is currently trading at $0.5302.

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