Ripple to release up to $1.3 billion in XRP from escrow on November 1

XRP faces another significant token unlock next week as Ripple prepares for its scheduled November 1 escrow release. The upcoming event could make one billion tokens available, representing a notional value of $1.3 billion based on XRP’s trading price of $1.30 on October 25. This development comes while XRP struggles to rebound above $1.40 after a failed recovery earlier in the week. Ripple, a US-based payments technology company known for creating the XRP Ledger and issuing XRP, implemented its escrow system in December 2017 to provide transparency and predictability in token distribution. According to the XRP escrow tracker, one billion XRP from two escrow accounts controlled by Ripple is set to become eligible for release at 00:00 UTC on November 1.

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