CandleFocus Ripple to unlock 1 billion XRP this Friday (November 1); What’s next?
2024-10-30
Author: Content Editor
Ripple, the core developer and largest holder of XRP, will unlock 1 billion tokens on November 1, adding to the circulating supply of XRP. This has led to concerns about dilution and potential effects on XRP's price. XRP has already experienced drops in price after previous unlocks and token sell-offs. Ripple has taken steps to increase transparency and stability by placing 55 billion XRP into escrow accounts and releasing tokens from escrow on a monthly basis. Ripple uses the proceeds from these sales to fund operations and invest in the XRP ecosystem. However, some controversy has arisen from the use of these funds, such as a recent donation to Kamala Harris's presidential campaign. Balancing operational needs with market impact remains a key focus for Ripple and the XRP community.
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