On July 1, Ripple was worth an estimated $470 million, as part of its monthly sales.

Ripple used these unlocks to fund its operations and development, despite concerns about continued selling pressure in the market.

Releasing large amounts of XRP to the market has had a history of putting pressure on the token's price. Investors and analysts kept a close eye on these activities, as the immediate availability of a large number of tokens could increase the supply and potentially reduce the price.

The next few months would be crucial to observe how these releases affected the market and see if this funding helped Ripple better position itself within the cryptocurrency ecosystem.