September 2, 2024
Ripple Unicorn News - September 02, 2024
Ripple has unlocked 1 billion XRP tokens, valued at approximately $560 million, causing a 2.26% dip in XRP's price. The tokens remain in the 'Ripple 24' wallet, with no immediate plans for further distribution. Tune in for detailed analysis and market implications.
() Introduction
() Ripple Unlocks 1 Billion XRP Tokens, Impacting Market Dynamics
Ripple has unlocked 1 billion XRP tokens, valued at approximately $560 million, on September 1, 2024. This action has led to a 2.26% decrease in the price of XRP, bringing it down to $0.55. The release was executed in three phases: 500 million XRP, 200 million XRP, and 300 million XRP, with all transactions completed by 10:50 UTC+8. The unlocked tokens are currently held in the 'Ripple 24' wallet, suggesting no immediate plans for further distribution, which has raised concerns among investors about potential future price declines.
