XRP (CRYPTO: XRP) is approaching the psychologically important $1 support as pro-XRP lawyer Bill Morgan argues Ripple is releasing tokens from escrow too slowly.
Why Morgan Wants Ripple To Speed Up Escrow Releases
Ripple locked 55 billion XRP into escrow back in 2017 to give the market predictable visibility into future supply.
One billion XRP unlocks on the first of every month, and Ripple decides how much to deploy versus re-lock into new escrow contracts at the back of the queue.
After the June 1 unlock, roughly 61.85 billion XRP sits in circulation against 38.15 billion still locked, a pace some estimates suggest could take nearly nine years to fully distribute.
