Altcoin News

XRP Price: 500 Mln Coins Released From Escrow, What’s Next For XRP?

Recent blockchain data hovering over the crypto horizon signaled that 500 mln XRP was unlocked from escrow, giving rise to speculations over XRP's future price action.
Published by
XRP Price: 500 Mln Coins Released From Escrow, What’s Next For XRP?

Highlights

  • Whale Alert's data highlights colossal amounts of XRP unleashed from escrow.
  • XRP trades in the green despite supply gains from unlock, sparking curiosity.
  • On-chain data further stirs speculations over the token's future price action.

Following quite a volatile movement witnessed by XRP over the past month, the Ripple Labs-backed token appears to have started off April on quite an optimistic note, trading primarily in the green near the $0.63 mark today. Amid this pump witnessed by XRP’s price, colossal amounts of tokens unlocked from escrow, per insights revealed by the blockchain tracking platform Whale Alert, nabbed significant attention among crypto market traders and investors globally.

Advertisement

XRP Escrow Unlock: An Extensive Look

According to Whale Alert’s data, a staggering 500 million XRP, worth $314.87 million, was unlocked from escrow today, April 1. Intriguingly, unlike usual XRP escrow unlocks, today’s massive release was carried out by an unknown address, whereas it is usually done by Ripple.

Meanwhile, as this massive unlock appears to have sparked curiosity, aligning with XRP’s today’s upward momentum despite supply gains, it also positioned as this month’s first escrow unlock, with speculations within the broader crypto market for another 500 million tokens unlock prevailing.

Ripple initially announced the locking of 55 billion XRP in escrow, revealing plans to release $1 billion coins each month, coming as a measure to regulate the token’s market dynamics. However, the American blockchain payments company hasn’t been doing so, with the abovementioned speculations of another colossal unlock for this month surfacing within the market.

Additionally, pro-XRP lawyer Bill Morgan appears to have offered vital insights into the XRP escrow unlock. Although he claimed it not to be a novel approach, this routine decision comes as an measure to regulate several market dynamics with the help of a supply boost.

In the interim, as the on-chain metrics for the Ripple-backed token further came into play, the token was shrouded in speculation over future price action shifts.

Also Read: AI News: China Playing Catch-Up As US Tech Giants Dominate AI Scene

Advertisement

XRP Price Jumps

As of writing, the XRP token’s price noted an uptick of 0.77% in the past 24 hours and is currently trading at $0.6274. Notably, over the past week, accompanied by the past month, the token topped $0.63 quite a few times, surging as high as $0.7, nabbing significant investor interest.

However, derivatives data offered by Coinglass spotlighted a marginal 0.11% decrease in the token’s open interest, whereas volume dropped 36.17%. This added a bearish tint to XRP as investors showcased a reduced sense of interest in the asset while the trading activity also plunged.

The RSI surfed at 51, with XRP neither overbought nor oversold, showcasing a neutral sentiment in the market. Further, speculation among crypto market enthusiasts builds that bears or bulls may take control of the asset anytime soon.

Despite the bearish on-chain factors, XRP traded in the green, underscoring the presence of some bullish trends present. Simultaneously, crypto market traders and investors continue to extensively eye the token, speculating over a bullish or a bearish trend win over the token ahead.

Also Read: Dogecoin (DOGE) Price Gains Another 7% Setting Stage for A Parabolic Rally

Share
Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

SEC Forms International Task Force to Crack Down on Pump-and-Dump Schemes

The U.S. Securities and Exchange Commission has launched a task force designed to tackle cross-border…

September 6, 2025
  • 24/7 Cryptocurrency News

Justin Sun Pledges $20M Buy Following WLFI Wallet Freeze

Justin Sun Justin Justin Sun responded to World Liberty Financial freezing his wallet by promising…

September 6, 2025
  • 24/7 Cryptocurrency News

Expert Blames ‘Secret Committee’ for Rejecting MSTR Stock Inclusion to S&P 500

Michael Saylor's Strategy (NASDAQ: MSTR) missed the inclusion in the S&P 500 index on Friday,…

September 6, 2025
  • 24/7 Cryptocurrency News

MARA Bitcoin Treasury Nears $6 Billion, Trails Only Strategy in Public Rankings

MARA Holdings, Inc. announced that it now holds $5.9 billion worth of Bitcoin. This cements…

September 6, 2025
  • 24/7 Cryptocurrency News

Senate Banking Committee Releases Updated Draft Crypto Market Structure Bill

The U.S. Senate Banking Committee has released an updated version of the draft Crypto Market…

September 6, 2025
  • 24/7 Cryptocurrency News

Michael Saylor’s Strategy Fails To Make S&P 500 Listing, MSTR Stock Drops

Strategy, led by Executive Chairman Michael Saylor, has been left out of the latest S&P…

September 6, 2025