Ripple, which won a partial but significant victory over the SEC over the summer, unlocked over 300 million XRP in December. Of the total supply of 100 billion XRP, only 54 billion is currently in circulation, of which 40 billion is stored in Ripple’s “lockbox.”
XRP became known worldwide when its price rose to 3.5 USD in December 2017 and continued to be gradually introduced by Ripple.
The company unlocked and put into circulation a total of 310 million XRP in December. Ripple released 60 million XRP on December 6 and 12, 120 million XRP on December 20, and 70 million XRP on December 27.
Approximately 40 billion tokens in Ripple’s vault will be released gradually until 2027.
As we all know, Ripple has been criticized a lot in recent years for its policies on this issue. The management of the company, which issues tokens within certain limits for each period, can also sell tokens within certain limits. It is also known that executives hold a large portion of the company’s shares.
Three years ago today (December 20, 2020), the U.S. Securities and Exchange Commission (SEC) filed an unregistered investment contract lawsuit against Ripple. In recent months, the courts have ruled that the XRP that Ripple sells to institutional customers falls into this category, but sales to retail investors are not allowed in this way.
This decision was publicly interpreted as a “victory” for Ripple against the SEC.
