Ripple has again released a huge 1 billion XRP from escrow, but this time the action has raised eyebrows throughout the crypto community.
The release, which typically occurs on the first of every month, occurred two days later than usual, causing speculation about a change in Ripple’s strategy.
According to Whale Alert, a popular tracker of large crypto transactions, Ripple executed three major transfers from escrow. The biggest transaction was 500 million XRP, which is more than $1 billion.
The other two transfers included one moving 300 million XRP valued at $612 million and another moving 200 million XRP valued at $407 million.
Interestingly, prior to unleashing this enormous amount, Ripple locked 700 million XRP back into escrow on April 2. This implies that of the 1 billion released, a significant amount will not enter circulation right away, aiding in supply control.
Ripple’s Changing XRP Release Pattern
Ripple has followed a strict schedule since 2017, unlocking 1 billion XRP on the first day of every month to provide liquidity to the market. However, this time, the release happened on April 3 instead of April 1.
The same thing happened in March, where the XRP unlock also occurred on the 3rd. This small but noticeable pattern has led traders to wonder if Ripple is making adjustments to its strategy. Some think it might be an indication that Ripple is gearing up for a significant market event.
The sudden postponement of the XRP release has made waves in the crypto space. The X users (formerly Twitter) were filled with confusion, and posts included “What is going on?” and “Is something big coming?”
However, experienced traders were quick to point out that this happens every month. One user dismissed the concerns by saying, “They always lock most of it back. Are you all new here?”
XRP Price Drops, But Analysts Predict Big Moves
Shortly after the unlock, the price of XRP dropped by 5%, slipping below the $2.00 mark. Some traders see this as a natural market reaction to the sudden increase in available supply.
Crypto analyst Egrag shared his thoughts on XRP’s price movement, calling the current market phase a “boredom phase.” However, he believes a big price move is coming soon. His projections indicate XRP might move up to $2.80–$3.00 in April, but warns of a potential fall to the $1.90–$1.79 area before any rally.
As Ripple is modifying its XRP release cycle, traders are keenly observing. Whether it’s a grand strategy or minor modification is yet to be understood, and so the crypto world remains in speculation regarding Ripple’s move.
Also Read: Did XRP Surpass Bitcoin on Korean Exchanges? A Fact Check
