- Ripple is planning its biggest monthly XRP deluge since 2017, with 400 millions tokens.
- Whale activity indicates a large amount of investor interest, even in the face of bearish trend.
Ripple prepared for a possible biggest monthly XRP sell-off since 2017 by setting aside 400,000,000 XRP tokens worth $208 million. Ripple is the largest XRP holder, and also the company that drives the XRP Ledger’s development. It sells a portion of its reserves every month in order to increase the number of XRP tokens available.
Ripple released 1 billion XRP ($520 million) from designated two-accounts on June 1, as per usual. “Ripple (24)” The following are some examples of how to get started: “Ripple (25).”
Ripple’s June sell-off: 400 million XRP tokens reserved
Dormant Account “Ripple (35)” Included 200 Million XRP in “Ripple (1)” In addition to the 200 million tokens that are given each month to the Treasury, this could be a bigger dump.
Sending 200 Million XRP first to “Ripple (1)” In May, “Ripple (24)” Then sent 300,000,000 tokens “Ripple (13)” They were then re-locked in escrow for September 2027.” In a similar vein, ‘Ripple (25)’ transmitted 500 million unlocked tokens to ‘Ripple (12),’ locking them until October 2027 and allowing XRP Scan to verify every transaction on-chain.
Since introducing escrows, Ripple only sets aside 350 million XRP per month for monthly dumps. Ripple sometimes holds back some reserves from a given month to sell off at a higher price in the future. next It is only a few weeks, but never more than 400 Million XRP.
Ripple sold 226 millions, 260,000,000, 240,000,000, 200,000,000, and 200,000,000 tokens from January to May 2024, respectively. The company implemented an escrow system to address investor concerns regarding transparency in 2017, despite supply inflation still affecting XRP’s pricing.
Ripple sales often lead to local token price collapses due to the pressure of supply on the market. Five of the twelve sell-offs days in this year were positive, which highlights the need to watch Ripple’s operation. XRP has performed poorly on a month-to-month basis in 3 of the 5 first months of 2020.
The current market performance and whale activity
CoinMarketCap shows that the current price of XRP (also known as XRP) is approximately $0.5142 At the time of writing down 1.03% The last 24 hours. In the last 24 hours. 3.91%This also shows a position that is negative for the last 7 days. Another whale has accumulated $52,000,000 in XRP tokens from CNF reported Binance previously.
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Source: www.crypto-news-flash.com