Ripple maintains a token-unlock program on the first day of every month. Through the process, the firm usually releases 1 billion XRP coins from its escrow accounts into the crypto market, increasing XRP’s circulating supply.
The San Francisco-based company launched the escrow program in December 2017 to ensure stability within the XRP markets.
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The program mapped out 55 billion XRP coins, which Ripple locked in an escrow system on the XRP Ledger (XRPL). The firm programmed a monthly unlock of 1 billion XRP tokens across 55 months.
XRP Escrow Update: Ripple Releases 1 Billion XRP for November,XRP Escrow Update: Ripple Releases 1 Billion XRP for November
In addition, Ripple included a protective measure to curb high volatility in XRP’s price. It would relock a greater part of the monthly released coins, which in most cases are up to 800 million from the released 1 billion coins.
However, Ripple is yet to relock any portion of the released coins for November at the time of writing.
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As of September 30, Ripple’s Q3 report revealed that the firm holds 41.3 billion XRP coins in its escrow account. Though it released 1 billion XRP coins on October 1, the company relocked 800 million tokens, bringing its holding to $41.1 billion XRP as of October.
Following the unlocking of 1 billion for November, Ripple should have about $40.1 billion XRP locked in its escrow account.
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