TechFlow News, February 2 — According to Whale Alert monitoring, 400 million XRP (approximately $1.136 billion) were unlocked from a custody account about eight minutes ago.
It is reported that in 2017, Ripple placed 55 billion XRP (55% of total supply) into escrow accounts built on the XRP Ledger. These escrow accounts are controlled by smart contracts, which automatically release 1 billion XRP per month (prior to 2020 the amount was 1 billion monthly; later adjusted to 450 million). Not all of the 1 billion XRP released each month enters circulation—Ripple typically uses only a portion (e.g., 20%-25% for market sales), while the remainder is re-escrowed and scheduled for future release. In 2020, Ripple extended the escrow contract duration from 55 months to 70 months, further slowing down the release rate.
