Ripple’s escrow mechanism released a total of 1 billion XRP on November 1, according to blockchain tracker Whale Alert. The release was split into two transactions of 500 million XRP each, each valued at approximately $626.43 million at the time of recording.
Ripple initially placed 55 billion XRP into escrow to provide a predictable distribution schedule. While the monthly releases add tokens to the circulating supply, Ripple has also returned a portion of previously unlocked tokens to escrow, with about 700 million XRP relocked to date.
RLUSD activity drives XRP demand
Jack McDonald, senior vice president of stablecoins for the XRP Ledger (XRPL), said that the adoption of the RLUSD stablecoin increases demand for XRP because transaction fees on the XRPL are paid in XRP. He noted that every mint, movement, and deployment of RLUSD requires XRP as the network’s gas token.
McDonald also pointed out that RLUSD sees broader practical use on the XRPL compared with other blockchains that host the stablecoin, such as Ethereum. Institutional interest has been noted in connection with Ripple’s Office of the Comptroller of the Currency (OCC) bank charter, Moody’s investment‑grade rating for RLUSD, and partnerships with entities like BNY Mellon and Cross River.
Context within the XRPL ecosystem
The escrow unlock follows a busy October for Ripple and the XRPL community, which included events such as the Swell gathering and XRP Seoul, alongside various ecosystem announcements.
