Ripple unlocks 1 Billion XRP

Ripple started 2022 hard by releasing 1 billion XRP tokens as part of its regular programmed fund transfers.


According to cryptocurrency tracker Whale Alert, Ripple tech giant releases 1 billion XRP tokens on January 1, 2022.



This is a standard procedure executed on the first day of each month, and for the past few years, these actions have been made in 2 transactions, each holding 500 million tokens.


Note that these escrow waivers have been made automatically since 2017. The initial plan was to slowly migrate 55 billion XRP tokens from escrow, so these monthly transactions are likely to finish this year.


Not to mention that Ripple puts around 900 million back in escrow, using the rest to cover its operational expenses. This includes sending to its clients and other financial institutions and supporting the digital asset liquidity by sending XRP to crypto exchanges.


Ripple's one billion XRP tokens release is worth $835,140,718. Some XRP users feared that these escrow releases would push the XRP price down when the company started four years ago. As a result of this fear, the community even started a petition on Change.org to demand that Ripple stop unlocking coins.


However, the community realized that these released do not impact the price at all.


On January 1, Whale Alert also spotted 2 XRP transfers with 20 million XRP tokens each.



Ripple carried out the first transfer to its ODL platform in the Philippines – Coins.ph exchange through one of its extra wallets, which is often used for sending XRP to external wallets.


The second transfer was carried out by US-based Bittrex exchange that moved 20 million XRP to the Bitstamp trading platform.