Ripple’s Monthly XRP Unlock and Sales
Each month, the XRP Ledger’s circulating supply increases as Ripple unlocks and sells its vested reserves. In November, the company unlocked 1 billion XRP ($650 million) and retained 200 million tokens ($130 million) for its operational expenses.
It’s worth noting that this is the first time since August that Ripple has deviated from the pattern of spending its unlocked XRPs in weekly installments. As of November 16, it has been 10 days since the company’s last sell-off of 60 million XRP ($39 million).
Ripple holds the remaining 140 million XRP ($91 million) in its identified crypto wallet address “Ripple (1)”. This is the account used to receive the unlocked tokens from the inflation escrows. Ripple then distributes XRP amounts to unknown addresses routed to crypto exchange accounts.
Ripple’s Changing Pattern of XRP Spending
In October, Ripple kept 200 million XRP from the monthly unlock and spent it in four batches ranging from 50 to 75 million tokens each within a seven-day interval. A similar pattern was seen in September with varying batch sizes. However, August showed a different spending pattern despite unlocking the same amount.
Predicting Ripple’s November XRP Sales
The predictability of Ripple’s sell-offs directly impacts the XRP price and its holders’ wealth. At present, “Ripple (1)” holds a balance of 306 million XRP ($200 million) that can be sold at any time, with 140 million being leftovers from November’s unlock.
The market is now speculating on how much XRP Ripple will sell in the coming days, especially considering that unlabeled addresses previously used for sell-offs have sent millions of tokens to exchanges in November, creating a meaningful supply pressure.
Hot Take: Ripple’s Unpredictable XRP Selling Patterns Affecting Market
Ripple’s change in pattern for selling off its unlocked XRPs has raised concerns among investors who rely on predictability to plan for potential price fluctuations. The unpredictable nature of these sales creates uncertainty and supply pressure in the market, impacting both the price of XRP and investor wealth. As Ripple continues to hold significant amounts of XRP for potential sales, investors are left wondering about the company’s future selling strategies and their potential impact on the market.
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