One billion XRP has been released through Ripple's regular monthly escrow unlock, drawing renewed attention to the relationship between XRP and the stablecoin RLUSD. A significant portion of the released amount has been confirmed to have been re-locked.

■ 1 Billion XRP Released in Two Tranches of 500 Million on November 1

According to the overseas crypto media outlet CoinGape, Ripple released a total of 1 billion XRP from escrow in two tranches of 500 million each on November 1 (local time). The release follows Ripple's regular monthly escrow unlock schedule. According to Whale Alert data cited by CoinGape, each transaction was valued at approximately $626.43 million based on blockchain data.

■ "More RLUSD Usage Increases XRP Demand"... Ripple SVP Emphasizes

Notably, Ripple stated that increased RLUSD usage could have a positive impact on demand for XRP. According to CoinGape, Jack McDonald, Ripple's Senior Vice President of Stablecoins, explained that demand for the XRP Ledger (XRPL) is growing alongside RLUSD's expansion.

McDonald emphasized that XRP is essential even for RLUSD transactions, as fees on the XRP Ledger must be paid in XRP. He said, "Every time RLUSD is issued or used on the XRP Ledger, it has a positive impact on XRP." He added, "Every process of issuing, moving, or distributing RLUSD on the network requires XRP, the gas token."

CoinGape reported that McDonald's remarks came amid debate over the relationship between XRP and RLUSD. McDonald also explained that RLUSD is actually being used more actively on the XRP Ledger than on other supported networks such as Ethereum.

■ OCC Banking License Pursuit, Moody's Rating... Factors Drawing Institutional Interest

McDonald also cited Ripple's pursuit of a banking license from the U.S. Office of the Comptroller of the Currency (OCC) and Moody's investment-grade rating for RLUSD as factors attracting institutional interest. In this regard, he mentioned financial institutions including BNY Mellon and Cross River.

■ 700 Million Re-Locked... "Not All Released XRP Circulates"

Ripple placed a total of 55 billion XRP into escrow to make XRP supply more predictable, and has since been releasing a set amount each month.

However, not all XRP released from escrow circulates in the market. According to CoinGape, Ripple has historically re-locked a significant portion of released amounts back into escrow. It has been reported that 700 million XRP from this November release was also re-locked. CoinGape explained that the remaining amount could be used for Ripple's operational activities, securing liquidity, or ecosystem-related businesses.

■ Release Follows October's Swell and XRP Seoul Events

Meanwhile, this escrow release came after October, when Ripple and the XRP Ledger ecosystem held various events. CoinGape reported that last month saw Ripple's Swell event, the XRP Seoul event, and other ecosystem-related announcements.

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