- Ripple released 1 billion XRP from its monthly escrow on November 1, 2026, split into two 500 million XRP tranches.
- Company executive Jack McDonald argued that growth in RLUSD usage on the XRP Ledger supports demand for XRP, since the network uses XRP to pay transaction fees.
- A significant share of the unlocked tokens was moved back into escrow, with about 700 million XRP relocked after the November release.
Ripple has released another 1 billion XRP tokens through its monthly escrow schedule, with blockchain data showing the unlock took place in two separate transactions. The release has renewed discussion about how the company’s RLUSD stablecoin relates to demand for its native token, a question that has been debated across the crypto community.
What Happened
According to Whale Alert data, Ripple’s escrow released two amounts of 500 million XRP on November 1, 2026. Blockchain records show each of the two transactions was valued at $626.43 million. Together, the releases make up the planned monthly unlock of tokens under the escrow arrangement.
Unlocked tokens do not automatically reach the open market. After the November release, roughly 700 million XRP was moved back into escrow, according to the source reporting. The remaining tokens may be used for operations, liquidity and ecosystem projects, although the specific allocation has not been detailed publicly.
The unlock followed a busy October for Ripple and the XRP Ledger (XRPL) ecosystem. Events during the month included the Swell gathering and the XRP Seoul event, along with several other ecosystem announcements.
Ripple Executive Links RLUSD to XRP Demand
Alongside the token release, Jack McDonald, Ripple’s Senior Vice President of Stablecoins, said that activity involving RLUSD has increased demand for the XRP Ledger. He explained that transactions on the network are paid for in XRP, which means RLUSD activity still requires the native token even though the stablecoin itself is not XRP.
McDonald stated that “every single time we mint or use RLUSD on the XRP Ledger is positive for XRP.” He added that every mint, movement and deployment of RLUSD on the network requires XRP as its gas token. His comments were made in the context of the ongoing debate over whether the growth of RLUSD competes with XRP or complements it.
McDonald also said that RLUSD sees more practical use on the XRPL than on other networks where it is available, including Ethereum. He pointed to several areas that have drawn institutional interest, including Ripple’s pursuit of an Office of the Comptroller of the Currency (OCC) bank charter for its stablecoin operations and the investment-grade rating that Moody’s has assigned to RLUSD. He named BNY Mellon and Cross River as institutions he had engaged with on these topics.
Why It Matters
For investors, the size and structure of the escrow releases are closely watched because they affect how much XRP could enter circulation in a given period. The fact that a large portion of the November tokens was relocked suggests that the unlocked amount and the amount reaching the market are not the same, and readers should not assume that every release translates into immediate selling pressure.
The comments from McDonald also matter for the broader market. Ripple is positioning RLUSD as a product that strengthens, rather than replaces, the XRP Ledger. If stablecoin activity on the network grows, it could create ongoing transaction demand for XRP as a fee token. Whether that demand becomes significant is something the market will need to measure over time, and the executive’s statements are the company’s view rather than independently verified data.
Market Context
Ripple uses an escrow model to release XRP in scheduled amounts, a structure designed to make distribution more predictable for the market. Under this model, monthly releases are a regular event, and the company has repeatedly returned a portion of unlocked tokens to escrow rather than selling them all.
RLUSD is Ripple’s stablecoin, and its development has become a central part of the company’s strategy. The debate over RLUSD and XRP reflects a wider question across the industry: whether stablecoins issued on a blockchain expand or divert activity from that chain’s native token. Supporters of the XRPL argue that every stablecoin transaction consumes XRP for fees, while critics question how much fee revenue this produces in practice.
What to Watch Next
- Future escrow releases: Readers should monitor whether Ripple continues its monthly unlocks and how much of each release is relocked to escrow.
- On-chain RLUSD activity: Data on minting, transfers and fee payments on the XRP Ledger will show whether the company’s claims about RLUSD usage hold up.
- Regulatory and institutional developments: Progress on the OCC bank charter application and any further institutional partnerships could shape RLUSD’s adoption.
- Official company disclosures: Statements from Ripple about how unlocked tokens are used for operations, liquidity and ecosystem projects would clarify how much supply reaches the market.
Source: original report
