Ripple Labs unlocked 1 billion XRP (just shy of $1.6 billion) from its escrow wallet today, according to Whale Alert, a service that tracks the movement of large amounts of cryptocurrencies.
XRP’s price is also currently down 4.21% from yesterday, now trading at $1.57 a token. By the law of supply and demand, more XRP in circulation means less value for the token. Perhaps today’s dip is to be expected.
