Ripple is the biggest XRP owner, which includes the 46.43 billion XRP tokens locked in escrows that are not yet considered in the circulating supply. On November 1, Ripple unlocked 1 billion tokens ($610 million) out of the 46 billion.
Every month, 1 billion out of the remaining tokens are unlocked under Ripple’s control. However, the company usually only keeps a small share of the monthly unlocks – reserved for its treasury – which has been majorly sold in the market.
Finbold has been monitoring the public ledger through XRP Scan and reporting Ripple unlocks. So far, we have identified a few patterns in the XRP supply inflation. This directly affects the digital asset’s long-term value, as seen in the lower price XRP would trade in case it hits an all-time high market cap.
Notably, the controlling company kept 200 million XRP in November, which is the same amount kept in the last reported months. With an increased price per token, this month’s inflation is worth approximately $122 million (at $0.61 per token).
Ripple relocks 800 million XRP in new escrows
Similar to what happened in October, the 1 billion was unlocked by two wallet addresses under the company’s control: Ripple (22) and Ripple (23). It was then sent to three other accounts of the same ownership.
- Ripple (1) received 200 million XRP from Ripple (22), which is still liquid and ready to be spent.
- Ripple (10) received 300 million XRP from the remaining tokens unlocked by Ripple (22), plus 100 million XRP from Ripple (23). And locked 400 million XRP in a new escrow, set to unlock in April 2027.
- Ripple (11) received 400 million XRP from Ripple (23), all re-locked into an escrow set to be unlocked by April 2027.
Additionally, both Ripple (22) and Ripple (23) still hold 4 billion XRP tokens for monthly escrows that will be unlocked within the next four months until March 1, 2024.