Unexpected unlocking of 500 million XRP tokens sparks community speculation

According to U.Today, data from Whale Alert showed that 500 million XRP tokens were unlocked from unknown escrow accounts earlier today, which is different from the usual monthly unlocking of Ripple accounts, triggering heated speculation in the community. The unlocking took place in two phases, with 200 million XRP released first, equivalent to $122.64 million, and then an additional 300 million XRP, worth $183.89 million. Notably, both transactions came from the “rDqGA” address, which has been associated with Ripple since 2017 but has been dormant since 2021, according to Bithomp records. This sudden release of a large number of tokens, outside of the regular schedule, raises questions about Ripple’s intentions. Despite concerns over the impact on XRP price, XRP price has shown resilience in the face of this development. Currently, XRP is trading at $0.614, up slightly by 0.5% from yesterday’s price. Notably, Ripple still holds a large amount of XRP, with 39.9 billion tokens remaining in its accounts.