Why’s Ripple Unlocking 500M XRP Worth $306M in the Middle of the Month?
- Ripple unlocked 500M XRP valued at over $306.5 million early today.
- The transaction fulfills the uncompleted amount of XRP released on April 1.
- In February, Ripple unlocked 600M XRP on the first day and later released 400M at the end of the month.
The crypto community has witnessed the surprising release of half a billion XRP tokens from an escrow, sparking questions regarding the purpose behind the unusual unlock. Whale Alert drew attention to this development in recent posts on X. According to the update, an escrow wallet released 500,000,000 XRP valued at over $306.5 million early today in two transactions.
The first transaction occurred at 05:05:31 UTC, involving the release of 200 million XRP valued at $122,636,247. Four minutes later, the second transaction occurred, releasing 300 million XRP valued at $183,898,502 from escrow.
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