Ripple’s escrow system has successfully fulfilled the redemption of 500 million XRP tokens, meeting the requirement for May. The redemption was carried out through two transactions, with 100 million and 400 million XRP being released. Both transactions occurred yesterday and were sent to the same address, which currently holds all the tokens.
The recent release of 500 million XRP in May has caused some concern in the market due to its deviation from the regular pattern. In previous months, the escrow execution has been inconsistent, with January being the only month that followed the usual release schedule. This irregularity continued in February, March, and April, causing discrepancies when compared to the expected monthly release of 1 billion XRP tokens.
While there is a possibility of price fluctuation in the market due to the irregular release, its impact has not yet been observed. Ripple’s monthly lock-up of 800 million XRP tokens may help stabilize the market. XRP has been on a recovery cycle, with a 5.85% increase this month to bounce back from the losses in April. Recently, XRP reached a 9-day high of $0.5367, but has since experienced a bearish effect. As of now, XRP is being traded at $0.5358, showing a 3.80% increase in the last 24 hours.
May’s escrow release has achieved a balanced distribution of tokens, addressing concerns over the disorderly execution of escrow throughout the year. The community generally expects a monthly distribution of 1 billion XRP tokens, and deviations from this schedule, along with other variations, have heightened concerns. However, Ripple’s consistent lock-up of 800 million tokens per month can help alleviate some of these concerns.
Out of the 500 million XRP tokens released in May, the total amount of tokens locked in Ripple’s escrow system for this month alone has reached 1 billion, ensuring an ongoing balanced escrow for May. The irregularity in public attendance does not hinder the project from maintaining stability by recovering the locked 800 tokens every month. The current development of XRP aligns with the overall market movement, although the irregularities during the lock-up period still need to be addressed.
