Ripple Continues to Sell XRP: What You Need to Know
Ripple, the largest holder of XRP, has been actively selling off large amounts of the cryptocurrency. While over 40.70 billion XRPs are locked in escrow and not part of the circulating supply, Ripple still holds over 5 billion liquid assets that it can sell at any time. In February alone, 260 million XRP has been dumped from Ripple’s treasury account. This includes an extra amount from a dormant wallet address.
Will Ripple Sell More XRP in February?
It’s important to note that the reported sales only account for Ripple’s treasury address labeled ‘Ripple (1)’. The company may have other sources of selling that are not included in this report. As of now, the price of XRP is up 8% since the beginning of February.
XRP Price Analysis Amid Ripple’s Dump Activity
XRP is currently trading in a downtrend from a local top in July 2023. While it’s difficult to determine the direct impact of Ripple’s dumps on the price based on the daily chart, an increase in supply or selling pressure can affect the market. Investors should trade cautiously and monitor whale activities for risk management and informed decisions.
Hot Take: Stay Informed and Exercise Caution
As a crypto enthusiast, it’s crucial for you to stay informed about market dynamics and news surrounding major players like Ripple. While Ripple continues to sell off significant amounts of XRP, it’s essential to assess the potential impact on price fluctuations. Keep a close eye on XRP’s performance and be cautious when making investment decisions. By staying informed and exercising caution, you can navigate the crypto market more effectively and make profitable choices.
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