Sell-off incoming? Ripple to unlock 1 billion XRP on May 1
Ripple, the company behind the XRP Ledger (XRP) development, will unlock 1 billion tokens on May 1, worth $503.6 million. This is part of Ripple’s monthly sell-offs, which could negatively impact the XRP price in the following weeks. Historically, Ripple has been unlocking 1 billion tokens through escrows, finalized on the first day of every month since 2017. So far, the company has been using ‘Ripple (22)’ and ‘Ripple (23),’ according to XRPScan , as reported in April’s unlock. However, these accounts show empty escrows on April 30, similar to what happened in March, a few days before April’s unlock . Finbold will further monitor Ripple’s known accounts and report accordingly in the coming days. Picks for you US economist warns inflation threat is ‘gravely understated’ 38 mins ago Economist predicts crisis to make prior recessions look like ‘Sunday school picnic’ 2 hours ago Is Russia banning crypto? Lawmaker weighs in 19 hours ago Et...