Breaking: Ripple Unlocks 1 Billion XRP from Escrow Account, Is A Sell-Off Ahead? – Crypto News – Crypto News
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Breaking: Ripple Unlocks 1 Billion XRP from Escrow Account, Is A Sell-Off Ahead? – Crypto News

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Breaking: Ripple Unlocks 1 Billion XRP from Escrow Account, Is A Sell-Off Ahead?

Ripple has released one billion XRP from escrow in a move that has triggered discussions across the cryptocurrency market. This development comes after a noticeable shift in the company’s typical XRP release pattern, which has been consistent since 2017.

Ripple Unlocks 1 Billion XRP in Three Large Transactions

Source: WhaleAlert
Source: WhaleAlert

The release came two days later than the usual monthly schedule. Historically, Ripple has unlocked one billion XRP on the first day of each month. Whale Alert shared the details of each transaction through its social media platform, confirming that the movements originated from Ripple’s escrow wallet.

Ripple started its monthly escrow routine in 2017. This system was designed by the company, to guarantee a constant and predictable supply of XRP, in order to facilitate market liquidity. Originally Ripple was going to put 55 billion XRP into escrow with one billion released each month for 55 months.

Changes to the XRP Release Strategy

This month’s release occurred after Ripple locked 700 million XRP into escrow on May 2. This is the third consecutive month Ripple has made such a move before its standard release. A similar sequence happened in April and March, which may suggest a shift in strategy.

Traditionally, around 700 million XRP gets relocked after every release, and we are seeing no change in that pattern. However, a new detail in this case is that the lock is executed before the release, not after. As a result, Ripple’s current approach to managing liquidity and the XRP distribution have become a matter of question.

However, Ripple has yet to issue an official statement to explain the reason for changing the timing. Meanwhile, some market participants speculate that this new pattern may be a result of recent market dynamics, or internal policy changes. The company, however, has not confirmed any of this at this point.

XRP Price Performance Amid Ripple Unlock

As of early May, XRP price is trading between $1.96 and $2.50. Analysts have noted that the asset is currently undergoing a consolidation phase. According to chart readers, XRP price has been holding above key support zones, including the 0.5 Fibonacci retracement and historical resistance at around $1.80.

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Crypto analysts Casitrades has shared her technical outlook. She stated, “We’re seeing a possible back-test of the $2.25 level, and a move to $1.90 remains in play.” According to the analyst, the current RSI shows exhaustion, suggesting a potential short-term dip before a bounce higher.”

While the overall sentiment remains neutral in the short term, several long-term traders continue to watch the $2.25 resistance closely. If XRP can hold above that level, higher price targets such as $2.68 and $3.00 remain on their radar.

The post Breaking: Ripple Unlocks 1 Billion XRP from Escrow Account, Is A Sell-Off Ahead? appeared first on CoinGape.

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