XRP has surpassed the $3 mark following the scheduled release of 1 billion tokens from Ripple’s escrow account, an event closely watched by investors and market analysts alike. The release, which took place on Thursday, October 2nd, coincides with the start of a bullish period many in the crypto community have dubbed “Uptober.”
According to blockchain monitoring platform Whale Alert, the unlocked XRP was distributed in four separate transactions: two batches of 400 million and two batches of 100 million, totaling 1 billion XRP.
Based on XRP’s trading price at the time, these tokens represented approximately $3 billion in market value. While Ripple’s monthly escrow releases are predictable, this month’s release was slightly delayed, occurring a day later than the usual schedule.
Ripple’s Escrow System
Ripple’s escrow mechanism is designed to regulate the circulation of XRP and prevent excessive supply from destabilizing the token’s value. Each month, the company releases up to 1 billion XRP, often returning unsold portions to escrow after limited market activity.
This structured approach aims to balance liquidity and scarcity, ensuring that XRP’s price is not unduly impacted by large, uncontrolled sales.
The October release attracted particular attention due to its timing. The market momentum surrounding XRP has been strong, with the token recently breaking above the $3 resistance level.
As of press time, data from CoinMarketCap shows XRP trading around $3.02, reflecting a 1.3 % gain over the past 24 hours. Investors are closely monitoring the impact of the unlocked tokens, which could influence short‑term price movements.
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Implications for Market Activity
Market analysts suggest that the freshly available XRP could serve a dual purpose. On the one hand, increased supply sometimes pressures prices by reducing scarcity. On the other hand, the additional liquidity may facilitate institutional transactions and broader adoption, particularly as regulatory decisions on XRP ETFs approach.
Several major ETF filings are under review, and investor confidence remains elevated with the expectation that these products could bring substantial capital into the XRP ecosystem.
The release also underscores Ripple’s commitment to transparency and predictability in its token management. By adhering to a monthly schedule and providing clear data on unlocked amounts, the company aims to minimize market uncertainty and maintain investor trust.
As the market enters October, XRP’s recent performance, coupled with the escrow release, has prompted optimism among traders. While supply increases can sometimes trigger short‑term corrections, many analysts believe the event strengthens XRP’s infrastructure for institutional use.
If combined with potential ETF approvals, these developments could reinforce upward momentum throughout the month.
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