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    Home ยป Ripple Considering Selling 3 Billion XRP in March
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    Ripple Considering Selling 3 Billion XRP in March

    By adminJul. 3, 2024No Comments2 Mins Read
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    Ripple Considering Selling 3 Billion XRP in March
    Ripple Considering Selling 3 Billion XRP in March
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    Ripple is preparing for a large XRP sale in 300 months, reserving 14.55 billion tokens worth $3 billion. This follows their practice of unlocking 1 billion tokens monthly, amounting to 485 billion through custody, with the last sale occurring on January 1st. Tokens are allocated to various accounts, including “Ripple (24)” and “Ripple (25),” with an additional 10 billion tokens signaling a larger scale sale this month.

    Historically, Ripple’s monthly sales increase the circulating supply of XRP, impacting its market price. Since launching the custody system in 2017, Ripple’s sales typically stay below 35 billion XRP, but recent months have seen figures rise to 40 billion sold in April.

    The system was instituted to address investor concerns about transparency, yet supply increases often lead to price drops. Despite improved transparency, the economic impact of these sales continues to influence XRP’s market performance.

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    Despite price declines, major investors are still purchasing meme cryptocurrency PEPE. In 2024, Ripple’s monthly sales range between 20 billion and 40 billion XRP, directly impacting XRP’s price. Out of 14 sales days this year, only 4 showed price increases, with the rest experiencing partial crashes.

    These fluctuations underscore the importance of monitoring Ripple activities. More significantly, XRP had negative monthly performance in four out of the first six months of 2024.

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