Ripple Provides Potential Timeline For FINAL XRP Escrow Unlock!
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December 30, 2023 2:21 pm
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Ripple Labs has released its Q3 2023 XRP Markets Report detailing the current state of Ripple’s native cryptocurrency, XRP.
According to that report, Ripple will release the last of its XRP from its escrow sometime in 2027—roughly four years from the time of this writing.
At the same time, XRP holders are demanding that Ripple conduct a token burn for much of the XRP currently locked up in their escrow in order to see the value of their own XRP holdings rise.
The XRP community has long kept an eye on the XRP escrow schedule, which unlocks and dumps roughly 1 billion XRP onto the markets at the beginning of every month.
Chris Terry shared the latest headline and asked: “The release schedule could stretch into 2027, prompting debate within the XRP community. Will burning escrow XRP trigger a price surge?”
Check out the latest insights from Ripple on the potential end date for its XRP unlocks. The release schedule could stretch into 2027, prompting debate within the XRP community. Will burning escrow XRP trigger a price surge? Read more here: https://t.co/ntbSViv48o
— Chris Terry (@BlockchainSoft) December 30, 2023
That's some exciting news about Ripple giving a specific timeline to end XRP selling from escrow. Thanks for sharing the article! 😄🚀 https://t.co/HKq9MYj5sJ
— Brett Hill (@Brett_Crypto_X) December 30, 2023
Expert Advises Against Burning 39 Billion XRP in Ripple Escrow
Ripple, a pivotal player in the cryptocurrency realm, set tongues wagging when its director, Matt Hamilton, hinted at the potential to burn all the XRP tokens ensconced in its escrow wallets. https://t.co/OJf1yVF2q2
— 𝕀ℕ 🌻 (@Ianbins) December 26, 2023
Bitcoinist explained:
Many community members seem to believe that initiating an escrow burn could potentially trigger a price surge for the XRP token. Despite the growing performance experienced by various altcoins such as Bitcoin, Ethereum, and Solana, the XRP token has struggled to achieve any significant price increase.
One member of the XRP community was critical of the escrow and the XRP vesting schedule: “Look at this email from Monica Long, they are basically DUMPING XRP into the XRPCommunity to fund Ripple, they build narratives to keep us clinging to this feeling of together we will win but in the end, if need be Ripple will follow and throw XRP under the bus.”
Look at this email from @MonicaLongSF, they are basically DUMPING XRP into the #XRPCommunity to fund Ripple, they build narratives to keep us clinging to this feeling of together we will win but in the end if need be Ripple will follow and throw XRP under the bus. #BurnTheEscrow pic.twitter.com/Mt4kPjhl9c
— GPD.Burn the Escrow! (@GDias2508) December 24, 2023
According to Ripple’s Q3 2023 XRP Markets Report:
Ripple reports information about its XRP holdings at the beginning of the quarter and last day of the quarter. Its holdings fall into two categories: XRP that it currently has available in its wallets, and XRP that is subject to on-ledger escrow lockups that will be released each month over the next 42 months.
For this latter category, Ripple does not have access to that XRP until the escrow releases it to Ripple on a monthly basis. The vast majority of the XRP released is put back into the escrow.
June 30, 2023:
Total XRP Held by Ripple: 5,551,119,094
Total XRP Subject to On-Ledger Escrow: 41,900,000,005September 30, 2023:
Total XRP Held by Ripple: 5,258,162,324
Total XRP Subject to On-Ledger Escrow: 41,300,000,005
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