Ripple releases 400 million XRP tokens, valued at around $217 million

Ripple (XRP) has released around 400 million XRP tokens, worth around $217 million, according to Whale Alert. These unexpected transactions have sparked the curiosity of the XRP community due to its unusual timing.

Traditionally, Ripple, the company behind the XRP token released around 1 billion XRP tokens from its escrow wallet on the first day of each month.

However, only half a billion tokens were locked in escrow in February. This in fact led to speculation about the nature of the transactions.

Note that Ripple’s token unlock strategy aims to ensure transparency and predictability in its supply chain. It is to limit market exposure to a predetermined volume of tokens.

Despite this, the transaction has had minimal impact on XRP’s value, which currently increased by 1% to $0.5494. Although the price of XRP didn’t move a lot, the token remains the sixth-largest crypto token with a market cap of over $29.7 billion.