Ripple’s escrow released 1 billion XRP in two 500 million XRP transactions on November 1, according to Whale Alert data. Each transaction was valued at $626.43 million, but 700 million XRP was relocked, so the full unlocked amount did not reach the market. The source says the remaining tokens might be kept for operations, liquidity or ecosystem projects.
Ripple executive Jack McDonald said RLUSD activity on the XRP Ledger creates demand for XRP because the network charges transaction fees in XRP. He also said RLUSD is used more widely on the XRP Ledger than on other networks that support it, such as Ethereum.
