XRP Escrow Cycle Leaves 300 Million Tokens Outside Escrow Before Midterms

XRP’s latest escrow cycle left a net 300 million tokens outside escrow before the Nov. 3 U.S. midterm elections, after two releases totaled 1 billion XRP and three later transactions placed 700 million XRP into new escrows.

Each release delivered 500 million XRP at 8 p.m. ET Oct. 31. On Nov. 1, the new escrows took in 100 million, 500 million and 100 million XRP. Their scheduled unlocks fall in June and July 2029.

The 300 million figure reflects the net change in escrow balances. The transactions do not establish whether the released XRP was sold or sent to trading venues. Ripple’s escrow plan provided for releases of up to 1 billion XRP each month, with unused tokens returned to the back of the release queue.

Dated price observations put XRP at $0.5092 on Oct. 31, 2024, and $1.9441 on Nov. 30, an increase of about 282%. A separate calculation using UTC month-end closes put the November gain at 282.9%. The month-long comparison spans dates before and after the 2024 presidential election and does not isolate the election’s effect on XRP’s price.

The midterm election is scheduled for Nov. 3.