XRP trades down 3.5% after Ripple unlocks 1 billion tokens from escrow

Blockchain payments company Ripple released 1 billion of XRP from three escrow accounts on August 1, pushing the price of its native token down by 3.4% in the past 24 hours, according to CoinGecko data.

Fast facts

• In December 2017, Ripple created 55 escrow accounts to hold 55% of Ripple’s supply.
• The escrows expire each month and the released XRP tokens are back in circulation. 
• Ripple was trading down 3.4% at US$0.370216 at 12:44 HKT, according to CoinGecko data.
• In Q2 2022, Ripple sold US$408.9 million worth of XRP, according to its latest quarterly report.