XRP Investors Alerted to Ripple’s $150 Million Sales Pressure!
Ripple has reportedly impacted the XRP market by selling 150 million XRP from its reserves on June 7th, causing a stir among investors.
The value of the XRP sold amounted to around $78 million, representing 0.25% of the total market value of XRP, which stands at $29.25 billion.
In a move that has become a regular occurrence since 2017, Ripple recently unlocked 1 billion XRP tokens from escrows on June 1st. Of this, 200 million XRP was transferred to the treasury account, while the remaining 800 million XRP was placed in a new escrow.
The sale was executed by transferring XRP from the treasury account labeled ‘Ripple (1)’ to the unlabeled ‘rP4X2hTa’ account, following the established protocol.
Historically, XRP has seen a decline in value when Ripple engages in such sales. Analysts are advising investors to monitor XRP closely in June, as this trend could potentially impact the anticipated price surge.
XRP is currently trading at $0.525, showing a slight decrease of 0.13% in the last 24 hours.
*Please note that this article does not constitute investment advice.
For access to over 300 cryptocurrencies, you can sign up with Binance exchange at a 20% COMMISSION DISCOUNT through this link!
Stay updated with exclusive news, analysis, and on-chain data by following our Telegram and Twitter accounts!
Receive Notifications from Comments Here
Notify
When a new reply is posted to my comment
Label
Name:
Mail
Δ
0 Comments
Inline Feedbacks
View all comments
