The Ripple Sales Volume Surges
You may have noticed Ripple’s increased public marketing of XRP this month. Renowned XRP community figure Mr. Huber pointed out that Ripple has sold 167,758,585 XRP over the last 25 days. This total sales volume amounts to $104,010,323, which is double the sales volume seen in the previous six months, averaging at a price of $0.62.
December Data: A Closer Look
Further insights came from examining the API records in December which revealed that Ripple’s XRP balance decreased by 60,159,086 XRP, equivalent to over $37 million in trades for the month. It also shows that Ripple sold 59,443,728 XRP on December 17 and 48,155,771 XRP the following week, both valued at around $30 million each.
Ripple’s Buyback Strategy
Ripple has a consistent practice of buying back a portion of the XRP it sells, usually in the first week of each month. In December, Ripple repurchased 131,092,729 XRP after selling 235,857,273 XRP in November. The company’s November sales amounted to 104,764,544 XRP, or approximately $63.9 million.
Looking Ahead: Ripple’s XRP Reserves
As we approach the end of December, Ripple’s XRP spendable wallet currently holds a balance of 5.16 billion XRP, while 40.7 billion tokens remain in escrow. With a buyback date set for January 7, 2024, the crypto community is eagerly awaiting further updates that will shed light on Ripple’s strategic decisions regarding its XRP reserves.
Hot Take
Recent data showing surges in Ripple’s XRP sales volume has piqued many in the XRP community. Ripple’s strategic moves and increased marketing may indicate something significant on the horizon. The increase in sales, alongside Ripple’s buyback strategy, has sparked speculation about the company’s intentions, funding delays, and broader impacts on the XRP market. The future movements of Ripple and XRP in 2024 will likely draw significant attention and interest.
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