Billions of XRP Released, Price Will Skyrocket Again?

<p>&nbsp;"A little more to break through $0.55, hopefully XRP can go up this month."</p><p><br /></p><p>After the month of October started, the performance of the cryptocurrency XRP seems to be growing as the blockchain payments firm Ripple recently acted to release over $1 billion of tokens from escrow*.</p><p><br /></p><p>*Before making a transaction, tokens are transferred to a third-party smart contract.</p><p><br /></p><p>There's no denying that 500 million XRP were massively released in the last 24 hours, but the crypto market needs to know that the unlocking of 400 million, 100 million and 70 million tokens is likely to happen as well.</p><p><br /></p><p><br /></p><p>So here it can be seen that the production of XRP is a positive sign for the digital asset as its price managed to surpass $0.54 on Friday last week before falling back a bit today.</p><p><br /></p><p>Although XRP still has to overcome various obstacles due to the legal battle between Ripple and the Securities and Exchange Commission (SEC), a positive start in October is expected to push its price higher.</p><p><br /></p><p>In addition to remaining a payment in the On-Demand Liquidity (ODL) program administered by Ripple, its role in the XRP Ledger (XRP) is also one of the reasons why the digital asset has become the focus of the crypto market.</p><p><br /></p><p>Following more tokens set to be released from escrow, XRP expects there to be sufficient circulating liquidity in the crypto market today.</p><p><br /></p><p>As of this writing, XRP price is up 1.42% at $0.52 in the last 24 hours with a market cap of $27 billion and has recorded a 4.30% increase over the past week.</p>