According to onchain data reported by Whale Alert, 400 million XRP, with an approximate value of $1.13 billion, were unlocked today.
This recurring event continues to have a significant impact on the cryptocurrency market each time. However, it should be noted that not all of these unlocked XRPs are immediately introduced into the market. When examining historical data, it is evident that Ripple typically utilizes only a portion of the unlocked XRPs, usually around 20% or 25%, for market sales. The remaining coins are returned to the escrow cryptocurrency wallet and locked, with their unlocking postponed until the following month.
In related news, it is important to be aware that Ripple’s management has faced criticism. Notably, ZachXBT, a renowned onchain investigator in the cryptocurrency sphere, recently highlighted the XRP sales executed by Ripple executives in response to criticism of PumpFun’s SOL sales.
Based on the data, approximately $109 million worth of XRP was transferred from Ripple co-founder Chris Larsen’s cryptocurrency wallets to centralized crypto exchanges in January.
*This translation is not intended as investment advice.
