Ripple released 1 billion XRP from its escrow program on November 1, the first scheduled unlock of the month. The release was split into two 500‑million‑token transfers, each valued at about $626.4 million, for a total of roughly $1.25 billion. The move follows Ripple’s 2017 escrow schedule, which caps monthly releases at 1 billion tokens to keep distribution predictable.

Effect on Circulating Supply

The unlocked amount does not automatically translate into a rise in circulating supply. Historically, Ripple has returned a large portion of released tokens to escrow—about 700 million in previous months—leaving only around 300 million in the open market. Whether the November release follows this pattern is unknown, so traders cannot yet gauge the net supply impact.

Market Context

XRP was trading near $1.25 on the day of the unlock, after a brief dip from $1.30 to $1.19 the previous session. The broader market was still reacting to a Binance security breach, but there is no evidence that the escrow release caused the price movement. Investors are watching subsequent escrow transactions and exchange activity for clues about future supply pressure.

Upcoming Ledger Upgrade

Separately, the XRP Ledger is poised for the fixCleanup3_4_0 amendment, which could activate as early as November 4 if validator support stays above the required 80% threshold. The amendment would add features such as automated market makers, lending, escrow, NFTs and permission delegation, including a PaymentBurn permission. Activation is not guaranteed, and its impact would be distinct from the escrow release.

What to Watch Next

1. Ripple’s next escrow release on December 1 and how much of the unlocked tokens are returned to escrow. 2. The outcome of the fixCleanup3_4_0 voting period and whether the amendment activates. 3. RLUSD activity on the XRPL, as its growth drives demand for XRP as the network’s gas token.