Ripple May Dump Over 200,000,000 XRP This Month

Leading crypto payment company Ripple could dump over 200 million XRP from the 1 billion coins it released from escrow on January 1, 2024.

Following the latest unlock of 1 billion XRP from escrow by Ripple, the crypto payment company immediately re-locked 80% of the total sum while the remaining 20% was sent to the firm’s spending account.

Ripple’s Latest Unlock

The Crypto Basic tracked these transactions to identify how these unlocks could affect the long-term value of XRP. In what has become a routine exercise, Ripple unlocked 1 billion XRP in three tranches on January 1. 

While ‘Ripple (22)’ received a lump sum of 500 million XRP, ‘Ripple (23)’ received a total of 500 million XRP in two transactions. 

Shortly after the transaction, ‘Ripple (22)’ sent 200 million XRP to the company’s spending account labeled ‘Ripple (1)’, while the remaining 300 million XRP coins were sent to another address owned by the company, ‘Ripple (11)’.

Similarly, ‘Ripple (23)’ also moved 500 million XRP to ‘Ripple (10)’. Interestingly, ‘Ripple (11)’ was used to lock the 300 million XRP in an escrow account programmed to be released on May 1, 2027. Additionally, ‘Ripple (10)’ also locked the 500 million XRP in escrow until June 1, 2027.

At the time of writing, ‘Ripple (22)’ and ‘Ripple (23)’ hold a combined 1 billion XRP. Both accounts will hold the coins until Ripple releases another 1 billion XRP from escrow.

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Following Ripple’s latest re-locking exercise, the company now holds 45.9 billion XRP in escrow, worth $26.1 billion.

Ripple Could Dump Over 200M XRP By January

With Ripple re-locking 80% of the 1 billion XRP unlocked on January 1, it sent 200 million XRP to ‘Ripple (1)’. At press time, ‘Ripple (1)’ holds a total of 226 million XRP, equivalent to $131.08 million.

It is worth mentioning that the funds in this account would be disbursed to other accounts before they are finally sold in the market. 

For context, ‘Ripple (1)’ also received 200 million XRP from ‘Ripple (22)’ last month after the usual monthly XRP unlock program. Before the month ended, ‘Ripple 1’ moved a total of 310 million XRP worth $179.8 million to this address ‘rP4X2…sKxv3’ in four tranches.

The funds were later sent to two additional accounts: ‘rhWt2…E32hk’ and ‘r4wf7…h4Rzn’ before they were finally sent to different centralized exchanges, including Bitstamp and Bitso.

Notably, the 226 million XRP currently held in ‘Ripple (1)’ could be dumped in the same pattern as seen in previous months. At press time, ‘Ripple (1)’ has yet to make any transaction since it received the 200 million XRP. However, it is only a matter of days or weeks before the 226 million XRP are sold on centralized exchanges.