Ripple Escrow Unlock Releases Additional 500M XRP for May

The Ripple escrow unlock schedule has recently released an additional 500 million XRP to complete the 1 billion quota for the month of May.

The escrow system released these XRP tokens across two uneven transactions spaced 16 minutes apart yesterday. On-chain data indicates that the first transaction, occurring at 08:28 PM (UTC), involved the release of 100 million XRP valued at $53.38 million.

Following the initial transaction, an additional 400 million XRP, valued at $213.9 million, were released, culminating in a total of 500 million XRP unlocked for this batch. Both transactions directed the tokens to the same address, which continues to hold them as of the latest reports.

Previously, this address had transferred 500 million XRP back into escrow, contributing to the 800 million tokens that Ripple re-locked this month. It is worth noting that the Ripple escrow unlock schedule witnessed a release of only 500 million XRP on the first day of the month, a departure from the typical pattern.

Interestingly, after the initial release of 500 million XRP on May 1, Ripple proceeded to re-lock 800 million tokens into escrow, as The Crypto Basic disclosed. Now, the latest release of 500 million XRP brings the total amount of tokens unlocked from escrow this month to 1 billion, effectively balancing the Ripple escrow unlock schedule for this month.

Erratic Ripple Escrow Unlock Schedule

This pattern of erratic escrow executions has been persistent throughout the year, with January being the only month that has witnessed the typical Ripple escrow unlock schedule. Last month Ripple saw the execution of 500 million XRP on April 1 before an extra 500 million tokens were released 11 days later. 

March recorded a similar pattern, with just 500 million XRP released on the first day of the month. In February, the Ripple escrow unlock schedule also witnessed a deviation, as the firm saw the release of just 600 million XRP on Feb. 1, and then 400 million on Feb. 25. 

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Although the XRP community typically anticipates the release of 1 billion tokens monthly, this year’s irregular schedule has heightened concerns about potential price fluctuations. Nonetheless, there has been no apparent impact on the market, as Ripple consistently re-locks 800 million tokens each month.

Notably, XRP remains on a recovery path, rising 5.85% this month in an attempt to offset the 20.44% loss recorded in April. XRP spiked to a 9-day high of $0.5367 yesterday before witnessing bearish pressure. It now looks to hold above the $0.53 psychological territory, currently changing hands for $0.5302.