Ripple XRP Reserves Strategy and Activity for July
Ripple, as the largest holder of XRP, has set aside 300 million XRP tokens valued at $145.50 million for its selling activity in July. This monthly practice by Ripple aims to increase the circulating supply of XRP.
- Ripple unlocked 1 billion XRP worth $485 million on July 1 through the XRP Ledger escrow system.
- Two labeled accounts, ‘Ripple (24)’ and ‘Ripple (25),’ facilitated this unlock.
Additionally, an extra 100 million XRP from ‘Ripple (35)’ was transferred to ‘Ripple (1),’ hinting at potentially larger dumps in the upcoming month.
Ripple XRP Reserves and Escrow Activity in July
‘Ripple (24)’ initially sent 200 million XRP for July’s sell-off to ‘Ripple (1).’ Subsequently, 300 million tokens were transferred to ‘Ripple (12)’ and locked in escrow until November 2027.
‘Ripple (25)’ released 500 million tokens to ‘Ripple (13)’ and fixed them in escrow until October 2027. These transactions are verifiable on-chain via the XRP Scan block explorer.
Ripple Historical Selling Activities
Since 2017, Ripple has consistently set aside up to 350 million XRP for monthly sell-offs. Occasionally, the company retains a portion for future sales or surpasses the reserved amount.
- In 2024, Ripple sold varying amounts of XRP each month, with the largest dump being 400 million XRP.
- The implementation of the escrow system in 2017 aimed to address transparency concerns from investors regarding Ripple’s selling practices.
XRP Price Trends During Ripple Sell-Offs
Ripple’s selling activities have a direct impact on XRP’s price due to the pressure on the spot market. The sales often lead to local price drops in XRP.
- Out of 14 sell-off days year-to-date, only five had positive price movements.
- XRP witnessed negative monthly performances in four of the first six months of 2024.
Currently, XRP is trading at $0.484, and investors should monitor Ripple’s July dumps closely to anticipate any market impacts.
Hot Take: Stay Informed to Navigate Ripple’s Selling Strategy
Keep track of Ripple’s monthly XRP sells to gauge possible effects on the market. Understanding Ripple’s selling patterns and their impact on XRP prices can help you make informed investment decisions in the crypto market.
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