Ripple XRP LIVE Updates Today: 50% Rally In Danger Ahead 1 Billion Token Unlock On Sept. 1

Ripple’s 1 Billion XRP Escrow Unlock Faces New Twist If CLARITY Act Gets Approval

If the CLARITY Act is approved by the Senate, the next release of 1 billion XRP from Ripple may be more important than ever. The monthly unlock will take place on September 1. This comes just head of the U.S. Senate holding a cloture vote on the bill to the floor on Sept. 15 when lawmakers return from their August recess.

The U.S. Securities and Exchange Commission (SEC) has recently accepted a registration statement for the Cryptex Digital Market Cap ETF, which seemingly contains a 4.88% stake in XRP. This filing refers to information that is alleged to have been provided by Ripple.

It says if the regulatory clarity is achieved via passage of the CLARITY Act, then more XRP can be released from escrow by Ripple. The reason cited would be to address off-ledger liquidity needs of stablecoin and foreign exchange trading pairs.

Analyst Sees Healthy XRP Pullback Ahead Of Ripple’s 1 Billion XRP Unlock

Traders are also keeping an eye on technical indicators as Ripple’s 1 billion XRP scheduled escrow unlock approaches on September 1. A crypto analyst said XRP is “starting a pullback after the strong rally and rejection from $1.66 resistance.” The warning comes after XRP price dropped after a 50% surge lately.

The analyst says that a pullback to $1.10-$1.38 range will maintain its bull market. Furthermore, it could help to push the monthly escrow event into the following price advance of $1.66, $1.93 and $2.25.

XRP Longs Unwind Ahead Of Ripple’s 1 Billion Token Unlock

Only days before Ripple’s long awaited 1 billion XRP escrow unlock on September 1, XRP is showing signs of a pullback in leveraged positioning. One of the biggest leverage build-ups this cycle, Bitfinex long positions jumped from 4.9 million XRP in June to its peak of 6.45 million in late August.

The latter has dropped to 5.62 million jobs with XRP trading around $1.41, down 1.61% today. Meanwhile, traders are keen to see if the leverage unwind can be resumed or put on hold before the highly anticipated monthly escrow release.