Two Ripple Accounts Still Hold 1 Billion XRP Ahead of Nov. 1

Two Ripple accounts still showed 1 billion XRP combined on Oct. 29, while the next date in the XRP Ledger’s escrow schedule approaches, a timing that does not itself confirm a token transfer.

The XRP Ledger account histories showed a 500 million XRP balance in each account. Their latest listed activity was four EscrowFinish transactions logged at 00:00:02 UTC Oct. 1 (8 p.m. ET Sept. 30). One account received 100 million and 400 million XRP, and the other received 200 million and 300 million. Neither history listed a later outgoing XRP payment through Oct. 29.

The next scheduled eligibility time is 8 p.m. ET Saturday, Oct. 31 (00:00 UTC Nov. 1).

An escrow’s time condition passing does not itself move XRP. The XRP Ledger requires an EscrowFinish transaction once the condition has been met. A scheduled date therefore does not establish that escrowed tokens have left escrow, entered circulation or been sold, and the account histories show only recorded balances and transactions.

The October cycle also involved new escrow contracts. On Oct. 1, 700 million XRP went into two contracts later that day, in separate amounts of 300 million and 400 million. That left 300 million XRP net outside escrow for the cycle; the 1 billion transferred out of the earlier escrows was not all left outside.

Ripple began its escrow program in 2017 by locking 55 billion XRP into contracts on the ledger. The arrangement was designed to make up to 1 billion XRP eligible for release each month over 55 months. XRP that was not used after a release could be placed into new escrow contracts, as it was during the October cycle.

The account balances and the next eligibility date describe separate points in the escrow process. The 500 million XRP in each account reflects the accounts’ latest listed balances, while the scheduled date marks when the next time condition is set to pass. The next listed date is Nov. 1 at 00:00 UTC, or 8 p.m. ET Saturday.