Ripple Locks Up 700 Million XRP: What’s Impacting XRP Price?

Ripple has locked up a significant chunk of its XRP tokens, 700 million to be exact. The move came as a surprise since the company normally releases 1 billion XRP per month for various operational and sales purposes. This time, instead of releasing the usual amount, Ripple moved 1 billion XRP between wallets, leaving 700 million locked back in escrow. This unexpected action resulted in a slight dip in XRP’s price, with prices falling by 1.87% to $2.09.