Ripple has completed its June escrow unlock as planned, releasing a total of 1 billion XRP. On-chain tracking data shows that these tokens were transferred out in three transactions, with a total value exceeding $1.33 billion based on the prices cited in the article. The market's focus is not so much on the unlock itself, but rather on how many of these tokens will actually enter circulation.
The scale of unlocking has been finalized.
The three unlocks are for 500 million, 400 million, and 100 million XRP respectively. According to Ripple's long-standing custody mechanism, monthly releases do not equate to an equivalent amount of new selling pressure, as the company typically locks the temporarily unused portion back into the custody account.
Ripple CTO David Schwartz previously explained that the company would re-host XRP that it did not expect to use or sell in the short term. This would further postpone the release schedule, so the nominal unlocking of 1 billion XRP per month would not all translate into circulating supply.
As of early June, the total supply of XRP remained capped at 100 billion, with approximately 61.85 billion in public circulation. Based on the data in this article, Ripple will still have approximately 38.15 billion XRP in custody after this unlock.
XRP Ledger Q1 Growth
In addition to custody updates, XRP Ledger also saw continued growth in on-chain data during the first quarter of 2026. Messari data shows that XRP remained the fourth largest non-stablecoin crypto asset by market capitalization during the quarter, behind only Bitcoin, Ethereum, and BNB.
The average daily number of transactions on the network increased by 35.3% quarter-on-quarter in the first quarter, rising from 1.83 million to 2.48 million. The report noted that this growth is related to the expansion of institutional DeFi, real-world asset tokenization, stablecoins, and decentralized liquidity-related functionalities.
During the same period, Ripple's USD stablecoin RLUSD saw its market capitalization rise to $340.3 million on XRP Ledger, a 45% increase from the previous quarter, making it the largest stablecoin on the network. RWA's market capitalization on XRP Ledger also reached $2.25 billion at the end of the first quarter, a 124% increase quarter-over-quarter.
ETF holdings remain high
US spot XRP ETFs remain an important variable in the market structure. Data cited in the report indicates that as of the end of the first quarter of 2026, these ETFs held a total of 775.4 million XRP, representing approximately 1.26% of the circulating supply.
This holding previously reached a high of 810.2 million XRP on March 3. The high ETF holdings indicate that institutional demand for XRP remains, but short-term price reactions will depend on the actual amount flowing into the market after the tokens are unlocked.
Short-term focus: $1.34
The report indicates that after the unlock was completed, XRP briefly traded within an upward channel on the 1-hour chart, with the price approaching $1.349. The article mentions that the area around $1.34 is currently a short-term support zone; if the price remains above this level, the market will continue to observe whether it will test the $1.368 level.
However, this trend assessment primarily reflects short-term market changes. For XRP, longer-term trading sentiment will still be influenced by the combined effects of custody lock-up ratios, ETF holdings changes, and XRP Ledger ecosystem data.
