Ripple, the company behind the XRP Ledger, conducted its scheduled monthly release of 1 billion XRP tokens on September 1, 2026. The tokens, valued around $1.38 billion, were distributed across three transactions: 500 million, 400 million, and 100 million XRP. This regular unlock event no longer shakes the market, as participants have largely grown accustomed to the monthly supply injections.
Ongoing Escrow Mechanism
Ripple implemented its escrow program in December 2017 to address concerns about concentrated token supply. The system locks XRP tokens in time-based smart contracts, systematically releasing up to 1 billion coins each month.
Despite these unlocks, Ripple consistently re-locks a significant portion back into new escrows. On average, 700 to 900 million XRP return to escrow after each release, with only about 100 to 300 million effectively increasing the circulating supply each month.
As of September 2026, 31.28 billion XRP tokens remain secured in escrow. Market analysis shows that regular monthly releases have minimal short-term impact, with seven-day price shifts typically ranging between a 3.1% drop and a 1.7% gain. XRP traded at $1.38 during the latest unlock and reached $1.42 within five days.
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The escrow release system means that each month, even when 1 billion XRP is unlocked, only a small portion actually enters broader circulation, with the majority returned to long-term holding.
August Rally Boosted by Institutional Interest
August 2026 marked a strong performance for XRP, which began the month near $1.10 and climbed 28.5% to briefly touch $1.70 before settling around $1.42. This was the most significant August rally for XRP since 2021.
Data indicates that institutional flows led this upward move. Spot XRP exchange-traded funds (ETFs), launched in March 2026, drew a total of $153.55 million in August, with $150.28 million coming in during the final two weeks. Meanwhile, retail trading activity on centralized exchanges contracted slightly.
Total inflows into XRP spot ETFs have now reached $1.68 billion since launch, with net assets reaching $1.48 billion. On September 4, these funds recorded zero daily net inflows, suggesting stabilized demand after significant August interest.
On-Chain Metrics and Network Activity
The XRP Ledger saw notable spikes in activity over the past month. The number of active addresses surged to 2.26 million in August, more than doubling July’s 1.02 million. The rolling seven-day average for daily active addresses reached 1.34 million, an all-time peak for the network.
Late August brought a 521% jump in payment volume for one week, pushing daily transaction volumes to roughly 488.4 million XRP. Despite the surge in volume, the actual number of transactions fell by 10.5%, reflecting the dominance of large institutional transfers. As a result, total value locked (TVL) within the XRPL ecosystem also increased, moving from $32.31 million in July to $44.42 million at the end of August.
| Metric | July 2026 | August 2026 |
|---|---|---|
| Active addresses | 1.02 million | 2.26 million |
| Payment volume (weekly increase) | – | +521% |
| Daily transactions | – | -10.5% |
| Total value locked | $32.31 million | $44.42 million |
Technical analysts observe that XRP’s current price structure could pave the way for another rally. Some point to chart patterns converging on a $2.30 target if the token can firmly reclaim the $1.50 resistance.
XRP continues to defend the crucial $1.40 support level, trading near $1.42 as of September 7. Regulatory uncertainty persists after the Senate delayed the CLARITY Act before entering recess. Legislative activity is set to resume on September 14, while the Federal Reserve’s next meeting is scheduled for September 15–16.
Mini dictionary: XRPL (XRP Ledger), the decentralized, open-source blockchain built for cross-border payments and digital asset transactions, serves as the infrastructure behind the XRP cryptocurrency and powers various decentralized finance (DeFi) and enterprise solutions.
