Ripple is preparing for a large XRP sale in the 300th month, reserving 14.55 billion tokens worth $10 billion. This follows their monthly unlocking of 1 billion tokens, equivalent to 48.5 billion dollars, through custody. The last sale took place on January 1st. The tokens are distributed to various accounts, including “Ripple (24)” and “Ripple (25)”. The additional 10 billion tokens mean that there will be a larger-scale sale this month.
Historically, Ripple’s monthly sales have increased the circulating supply of XRP, thereby affecting its market price. Since the introduction of the custody system in 2017, Ripple’s sales have usually not exceeded 35 billion XRP, but the numbers have risen in recent months, with 40 billion XRP sold in the 400th month.
The establishment of this system was aimed at addressing investor concerns about transparency, but the increase in supply often leads to price drops. Despite the improved transparency, the economic impact of these sales continues to affect the market performance of XRP.
Read more:
[image]
Despite the price drop, major investors are still buying meme cryptocurrency PEPE
By 2024, Ripple’s monthly sales are expected to be between 20 billion and 40 billion XRP, with sales directly impacting the price of XRP. Out of the 14 sales days this year, only 3 saw price increases, while the rest experienced partial drops.
These fluctuations highlight the importance of monitoring Ripple’s activities. More importantly, XRP had negative monthly performance for four out of the first six months in 2024.
[image]