Ripple to release up to $1.3 billion in XRP from escrow on November 1

XRP faces another significant token unlock next week as Ripple prepares for its scheduled November 1 escrow release. The upcoming event could make one billion tokens available, representing a notional value of $1.3 billion based on XRP’s trading price of $1.30 on October 25. This development comes while XRP struggles to rebound above $1.40 after a failed recovery earlier in the week. Ripple, a US-based payments technology company known for creating the XRP Ledger and issuing XRP, implemented its escrow system in December 2017 to provide transparency and predictability in token distribution.

Source: CoinTurk News