Ripple re-locks 1 billion XRP in custodial wallet early this morning

According to Whale Alert monitoring, Ripple re-locked 1 billion XRP in the escrow wallet at 2:21 am today, worth about 1.546 billion US dollars. Earlier, Ripple said that it uses the escrow account system to provide transparency and certainty for the XRP market. The company locks most of its XRP holdings to ensure that it does not oversupply the market and manipulate prices. However, the company also uses XRP in the escrow account to invest and support projects in the Ripple ecosystem. Releasing 1 billion XRP tokens from the escrow account each month does not mean that all of them will enter the market. Ripple may choose to sell some of them to institutions or retail investors, use some for its own purposes, or return some to the new trust.