At 8:00 on January 1, 2024, 1 billion XRP was unlocked from Ripple's custodial wallet today.
What is the reason for XRP unlocking?
The reason why XRP is unlocked is because Ripple unlocks a certain amount of XRP every month as part of their early fundraising. However, this does not mean that these XRP will be sold, but may be used to support the operation and development of the Ripple ecosystem.
What impact will XRP unlock have on the market?
The impact of XRP unlocking on the market mainly depends on the amount and time of unlocking. XRP is a digital currency with a total supply of 100 billion, of which more than 6 billion are held by Ripple, which is used for marketing, institutional cooperation and fund raising. Ripple will unlock a certain amount of XRP every month, which can be used for company operations and investment. So, what impact will XRP unlocking have on the market?
The impact of XRP unlocking on the market is complex. Although unlocking will increase market supply, it may also increase liquidity and promote the development of the ecosystem. Therefore, investors need to consider various factors comprehensively in order to make wise investment decisions.
