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HomeCrypto NewsMarketRipple Escrow Unlock Releases 1B XRP for November as XRP Closes October Red

Ripple Escrow Unlock Releases 1B XRP for November as XRP Closes October Red

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The Ripple escrow unlock schedule has released exactly 1 billion XRP for the month of November, coinciding with a bearish close to October.

Market tracking resource Whale Alert spotlighted part of the latest escrow execution movements, which occurred across three uneven transactions at midnight today.

Two of the three transactions involved the Ripple address “rw2…3wY.” At midnight today, the Ripple escrow unlock schedule released 400 million XRP worth $203.7 million to this address. Simultaneously, the address also received another batch of 100 million XRP valued at $50.94 million.

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Interestingly, the “rw2…3wY” has been inactive for a month, a pattern observed with Ripple’s escrow accounts. Notably, the address witnessed the release of 500 million XRP last month and transferred all the tokens to another Ripple address ten hours later.

Meanwhile, amid the latest Ripple escrow unlock exercise, a second address “rDq…EsF” received 500 million XRP worth $254.7 million from the third escrow execution transaction. This brought the total tokens released for November to 1 billion.

Ripple Escrow Unlock Whale Alert
Ripple Escrow Unlock | Whale Alert

Typical Ripple Escrow Unlock Pattern Resumes

At press time, both addresses “rw2…3wY” and “rDq…EsF” have retained their tokens, with each holding a balance of 1 billion XRP. 

If the usual pattern continues, these addresses are likely to send out the assets hours later today, with Ripple locking back 800 million XRP and retaining 200 million for operational purposes.

It bears mentioning that the Ripple deviated from this pattern earlier in the year, when the escrow unlocks became erratic for a few months. During this period, some months witnessed the release of less than 1 billion tokens.

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However, the pattern appears to have stabilized over the past three months. Meanwhile, the latest Ripple escrow unlock execution comes at a time when XRP is battling to reclaim some of its previous losses.

XRP Closes October with 16% Loss

Following a mild uptick to a high of $0.53 on Oct. 29, XRP witnessed a correction that saw it drop 3.71% over a two-day timeframe, as it closed October with a massive 16.74% loss, its largest monthly loss since April. 

XRP has gained by a meager 0.98% this morning, currently trading for $0.5138 at press time. Despite this mild rise, the altcoin would need to record a push toward its 50-day SMA at $0.5543 to flip its momentum to bullish.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Sam Wisdom Raphael
Sam Wisdom Raphael
Sam Wisdom Raphael is a seasoned crypto news writer and journalist with 5 years of experience covering blockchain, DeFi, and crypto developments. Sam's active presence in the crypto community complements his deep understanding of the crypto space, allowing him to craft comprehensible price analysis reports and tackle technical blockchain concepts.

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