Ripple Released 1 Billion XRP Tokens! How was the effect on the price?

It has released 1 billion XRP tokens from Ripple's escrow system as of today. For those unfamiliar with this system, Ripple installed it in December 2017 as a mechanism to stabilize the XRP market.

Ripple Releases 1 Billion XRP

The company has locked 55 billion XRP into a series of escrows, each holding 1 billion XRP, to be released monthly for 55 months.

Whether or not these monthly releases affect the price of XRP remains a controversial issue, while many argue that the predictable nature of the release minimizes the impact on the market.

In parallel with this release, XRP, which is an integral part of the Ripple blockchain ecosystem, continues to attract attention.

According to a report from crypto analytics platform Santiment, it is currently the most trending asset in the cryptocurrency world.

Although it is quite difficult to make precise predictions in the volatile crypto market, this volatility may indicate a shift in price behavior.

Amid these positive market indicators, speculation is circulating that XRP will reach the $1 level, especially backed by prominent crypto investor DonAlt.

The token last saw this price point in November 2021. Despite ongoing concerns over Ripple's litigation with the SEC over the classification of XRP as a security, the unprecedented rise in address activity over the past few days has raised optimism about XRP's potential to surpass the broader crypto market.

According to John Deaton, a lawyer who supports XRP, the outcome of the lawsuit expected in the coming weeks could cause a significant change in the long-term trajectory of the XRP token.

At the time of this writing, XRP was trading at $0.5035, down 2.69%.

*Not Investment Advice.

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