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Another year, another unlock: a fresh start for Ripple in 2024

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In two separate transactions, Ripple (XRP) conducted the first unlocking of 1 billion tokens in 2024. According to Whale Alert, the first batch of 500,000,000,000 tokens was taken out of escrow (transferring tokens to a third-party smart contract).

Today, the value of all unlocked tokens is $611.42 million. Ripple is unlocking these tokens to stabilize the price of XRP.

However, the latest unlocking is different from those conducted by other projects. This is because the blockchain payment company is moving them into escrow to keep the turnover under control.

Ripple could finalize its token unlocking mechanism by April or May 2027. But how has XRP reacted to the event this time around? According to CoinMarketCap, XRP managed to hold steady at $0.61.

This value was about the same as the price of XRP a week ago, suggesting low volatility around the cryptocurrency. The relative strength index (RSI) also confirms this.

At the moment, XRP is oversold. If buying pressure exists, the $0.61 mark could be the level from which XRP turns upward. Meanwhile, RSI showed that the buying momentum is resuming.

At the time of publication, the RSI stood at 44.93. But for XRP to confirm a reversal, the RSI needs to rise above the 50.00 average. If that happens, XRP could be on its way to reaching $0.65.