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Ripple to Unlock 1 Billion XRP Tokens Worth $609M on August 1 – Should You Buy Now?

Jeff TaylorBy 02 Mins Read
ripple xrp
  • Ripple will unlock 1 billion XRP tokens worth $609 million on August 1st, potentially impacting the market.
  • With Ripple’s ongoing partnerships and recent market performance, it might be a strategic time to consider buying XRP.

In August, nearly $1.5 billion worth of tokens from major crypto projects will be unlocked, starting with a substantial release of 1 billion XRP tokens worth $609 million on August 1 by Ripple. As previously discussed in a CNF post, Ripple CEO Brad Garlinghouse foresees exponential growth in RWA tokenization with the Archax partnership.

As of now, Ripple has been unlocking 1 billion XRP monthly since 2017 but often re-locks a large portion, as it did in June by re-locking 800 million XRP and releasing 300 million into circulation.

As highlighted in today’s CNF YouTube video, other significant unlocks include 600 million Wormhole tokens worth $180.5 million on August 3, and 9.4 million Avalanche tokens valued at $268 million on August 20.

Ripple to Unlock 1 Billion XRP Tokens Worth $609M on August 1 - Should You Buy Now?

Several other projects will also release tokens on August 1. Sui will unlock 64 million tokens worth $50 million, while dYdX will release 8.33 million tokens valued at nearly $11 million. ZetaChain is set to unlock 53.9 million tokens worth $34.5 million.

Should you invest in XRP now?

Besides Ripple and Archax’s expanding partnership to tokenize hundreds of millions in real-world assets on the XRP Ledger, as earlier reported by CNF, it is worth noting that later in the month, Immutable IMX will unlock 32.5 million tokens worth $49 million on August 9, Aptos will release $80 million worth of tokens on August 12, and The Sandbox will unlock $69 million worth of tokens on August 14.

Additionally, Starknet will release 64 million tokens worth $35 million on August 15, and Arbitrum will unlock 92.6 million tokens valued at $67 million on August 16. At the time of writing, Ripple (XRP) is trading at $0.6105, having surged by 0.64% in the past day and 1.30% in the past week. Maybe it’s time to consider buying XRP. See the XRP price chart below.

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This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.

Dr. Jeff Taylor is an experienced crypto journalist with a Ph.D. in Biochemistry, whose primary mission is to educate everyone about the potential of Bitcoin and the blockchain technology. His fascination with cryptocurrencies began during his tenure as a former trader when he discerned the distinct advantages of decentralized money compared to traditional payment systems and CBDC's. Business Email: info@crypto-news-flash.com Phone: +49 160 92211628

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