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X account @XRPwallets, which tracks XRP transactions, including those made by Ripple, has published a detailed report of where half of the billion XRP coins unlocked by the crypto giant last month were distributed.
The majority, according to the X post, was used for ETPs and other investments via major cryptocurrency trading platforms. Traditionally, Ripple releases one billion XRP during the first days of every new month and then locks around two-thirds of it back into escrow.
Ripple's actual half-billion XRP release mapped
@XRPwallets revealed that, in February, the San Francisco-based blockchain behemoth shifted approximately 309 million XRP to major cryptocurrency exchanges. Those coins eventually went to XRP exchange-traded funds (ETFs), XRP trusts and other investments. The largest XRP chunk was sent to Binance — 300 million. Five million XRP went to Bitgo and four million XRP to Coinbase.
Besides, Ripple transferred around 100 million XRP to various Ripple Pay (formerly known as ODL) corridors to support liquidity in those payment channels.
Since early 2018, Ripple has been unlocking one billion XRP and then locking around 700 million or 800 million XRP.
In March, Ripple also unlocked one billion coins. Earlier today, the aforementioned account reported that, in February, Ripple locked back 700 million XRP, and in March, it put back in escrow the same amount of crypto.
Ripple sends 20 million RLUSD to Gemini
In an earlier tweet today, @XRPwallets also commented on Ripple recently minting a substantial amount of its stablecoin, RLUSD. According to @RL_Tracker, the crypto heavyweight minted two batches of RLUSD on Monday: 69,000,000 and 19,655,000 RLUSD. The former was the largest RLUSD mint ever made by Ripple.
@XRPwallets tracked the second one, saying that it was issued to a wallet that belongs to the Winklevosses' crypto exchange, Gemini. Apparently, this transaction was made as part of the collaboration between Ripple and Gemini (using Mastercard and WebBank) announced in November 2025.
The crypto exchange then intended to implement RLUSD settlements on the XRP Ledger for payments made with fiat bank cards. The first product of this collaboration was the Gemini XRP Credit Card.
That initiative was meant to ensure faster, more secure, transparent and compliant settlement within the conventional financial system.
Dan Burgin
Vladislav Sopov
