Ripple unlocked 1 billion XRP from escrow at the start of October. Blockchain outlet U.Today reported the release was carried out in four transactions, with markets watching how much Ripple will place back into escrow within 24 hours. The unlocked amounts were split into 400 million, 200 million, 300 million and 100 million XRP. Ripple has typically re-escrowed a large portion of monthly releases, using the remainder for operations and ecosystem support.

Large parts of the U.S. stock market and funding markets have effectively entered a frozen state, leaving many stocks struggling, CNBC reported, citing Jim Cramer. He said high interest rates, geopolitical uncertainty and political factors are slowing activity and that investors should not rush to exit the market. Cramer pointed to a weak housing market, slower IPOs and mergers, and potential headwinds for data center investment. He said the backdrop could quickly improve if a war ends, easing oil prices, inflation and the risk of further rate hikes.