Ripple has reserved 200 million out of the 1 billion XRP unlocked in May for its monthly sell-off. This amount is worth nearly $104 million, with XRP price trading below $0.52.

Currently, the company has around 39.70 billion tokens locked in escrows from the initial distribution that never circulated. Ripple unlocks 1 billion of these XRP tokens every month and re-locks an arbitrary amount for further release.

Finbold has tracked these unlocks, identifying patterns that affect the asset’s long-term value and also XRP’s short-term price action.

Notably, Ripple used two new accounts for May’s unlock, starting a new escrow epoch with the ‘Ripple (24)‘ and ‘Ripple (25)‘ labeled accounts. Previously, the company was using ‘Ripple (22)’ and ‘Ripple (23)’, now with no escrows left, as reported on April 30.

Ripple XRP reserves and escrow activity in May

As developed, ‘Ripple (24)’ first sent the 200 million XRP for May’s sell-off to ‘Ripple (1)’. Later, the account sent 300 million tokens to ‘Ripple (13)’ and re-locked the amount for an escrow to September 2027.

Ripple (24) account, transaction history. Source: XRPScan

Meanwhile, the ‘Ripple (25)’ account sent 500 million to ‘Ripple (12)’, which is also scheduled to finish in September 2027.

Monthly Ripple (XRP) unlock – May, 2024. Source: Finbold

XRP price analysis amid Ripple sell-offs

Interestingly, Ripple’s previous sell-offs and escrow activities coincide with meaningful XRP price movements. Finbold placed each of the company’s observed sales year-to-date on XRP’s daily chart.

So far, Ripple made its sales on January 7, 16, and 30, February 5, 11, and 20, March 5 and 13, and April 14 and 24. Interestingly, only three out of ten days had a slightly positive price action. Yet, even these ‘green’ days were made of shy gains, while the negative ones were more impactful.

XRP/USD daily chart with Ripple sell-offs year-to-date. Source: TradingView (Finbold)

As of this writing, XRP trades at $0.519, bouncing back from support at $0.50. Therefore, investors should closely monitor Ripple’s selling activities in May, as they could slow down an expected price recovery.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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