On the first day of every month, Ripple unlocks 1 billion XRP tokens from an escrow system programmed within the XRP Ledger. This recurring event is scheduled for October 1, executed in three transactions:
- 100 million XRP
- 400 million XRP
- 500 million XRP
This October 2023 unlock represents 1.87% of the current circulating supply (53.31 billion XRP). The remaining 46.69 billion XRP, owned by Ripple, will be released monthly through escrows until February 2027.
Escrow Addresses Involved
Two known Ripple-controlled wallet addresses will finalize escrows on September 30:
Address "Ripple (22)"
- Unlocks 500 million XRP (locked July 1, 2019)
- Transaction ID:
D0C3E…7568F
Address "Ripple (23)"
- Unlocks 100 million XRP (locked July 1, 2019)
- Transaction ID:
532CD…1E4D2 - Unlocks 400 million XRP (locked August 1, 2019)
- Transaction ID:
574D0…25F89
These addresses hold 5 billion XRP for future monthly escrows, set to conclude by February 29, 2024.
Why Did Ripple Implement the Escrow System?
The XRP Ledger capped its total supply at 100 billion XRP in 2012. Ripple retained 80 billion XRP from the initial distribution, pledging gradual releases to avoid market saturation.
In 2017, Ripple introduced escrow smart contracts to ensure predictable token unlocks:
- 1 billion XRP released monthly for 55 months (totaling 55 billion XRP).
- Unsold tokens are relocked into new escrows, extending the circulation timeline.
👉 Learn how smart contracts enhance crypto ecosystems
Ripple’s Handling of September’s Unlocked XRP
On September 1, Ripple unlocked 1 billion XRP ($500 million) and:
- Relocked 800 million XRP (80%) into escrows expiring in 2027.
- Spent 100 million XRP on September 11 amid a price crash triggered by FTX liquidation news.
- Circulated 75 million XRP on September 18 and 50 million XRP on September 22 (partly from earlier unlocks).
FAQ Section
Q1: How does Ripple’s escrow system impact XRP’s price?
A: Controlled releases aim to prevent sudden supply surges, potentially stabilizing prices long-term.
Q2: What percentage of XRP is still locked?
A: As of October 2023, 46.69 billion XRP (46.69%) remains in escrow.
Q3: Can Ripple alter the escrow schedule?
A: No. Escrow contracts are immutable, ensuring transparency.
👉 Explore XRP’s market dynamics
Key Takeaways
- Ripple’s monthly unlocks are programmatic and transparent.
- Unsold XRP is re-escrowed, delaying full circulation until 2027.
- Market reactions vary based on spending timing and external events.
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Keywords: XRP unlock, Ripple escrow, XRP Ledger, circulating supply, smart contracts, cryptocurrency regulation
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