Ripple Unlocks 1 Billion XRP as Trump Adds It to US Crypto Reserve, XRP Saw 30% Gain

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As part of the monthly release of 1 billion XRP tokens, Ripple unlocked another 1 billion XRP on 3rd March 3 before re-locking back the 700 million XRP tokens into an escrow wallet.

This came after U.S. President Donald Trump announced on Truth Social that select cryptocurrencies, including XRP, were added to the new U.S. Crypto Strategic Reserves. Following this news, XRP, the third-largest cryptocurrency by market cap, surged 30% in a day, reaching a market cap of $150 billion.

Ripple Unlocks 1 Billion XRP

On March 3, blockchain tracker Whale Alert reported the release of 1 billion XRP from Ripple’s escrow accounts, worth around $2.6 billion in multiple transactions. The first 500 million XRP was sent in two batches 100 million first, followed by 400 million to the wallet ‘rGKHD…2Bdh.’ 

However, a few minutes later, another 500 million XRP was sent in a single transaction to the wallet ‘rHGfm…sbQr.’

Ripple unlocks XRP every month, but this time, it gained more attention because of Trump’s announcement. Many believe adding XRP to the U.S. Crypto Reserve could attract more big investors and increase its price.

Ripple Locks Back 700 Million XRP

Despite unlocking 1 billion XRP, Ripple did not release all of it into the market. Instead, 700 million tokens were locked back into escrow. 

Here’s the breakdown:

The first wallet that got 500 million XRP but hasn’t moved it yet. Before this, it sent 300 million to another wallet on March 1 and locked 200 million back.

The second wallet that got 500 million XRP had already moved the same amount to another Ripple wallet, which locked it back in escrow.

If Ripple follows its usual monthly locking pattern, it might lock another 100 million more, leaving only 200 million XRP in circulation.

XRP Price Recored 30% Gain 

Following these events, XRP’s price saw a sharp rise, climbing 17%, as of now to reach $2.60. Over the past 24 hours, its overall gains have hit 30%, pushing its market cap to $150 billion.

Technical analysis suggests that XRP is now facing physiological resistance at the $3 mark, slowing down its rally. However, if buyers break past this level, the next target could be its January high of $3.40.