Millions

Million

<p>The post <a rel="nofollow" href="https://coinpedia.org/altcoin/did-ripple-make-a-loss-by-selling-millions-of-xrp-at-less-price/">Ripple Sells Millions of XRP Tokens; But Did They Clock a Loss?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://coinpedia.org/news/is-xrp-on-the-edge-of-becoming-a-global-reserve-currency-ripple-cto-unveils-the-answer/">Ripple</a>, the company behind the XRP cryptocurrency, has recently sold millions of XRP tokens from its holdings. This is a significant change in strategy, as Ripple had previously restricted its sales of XRP amidst ongoing legal issues.</p> 
<h2 id="xrp-transactions-raise-eyebrows" data-name="xrp-transactions-raise-eyebrows" class="wp-block-heading">XRP Transactions Raise Eyebrows</h2> 
<p>Blockchain tracker Whale­ Alert recently re­ported two significant transactions involving <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/">XRP</a>. One transaction consisted of 29.7 million XRP, while the other involved a whopping 425.3 million XRP.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 29,700,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> (15,040,591 USD) transferred from unknown wallet to <a href="https://twitter.com/hashtag/Bitstamp?src=hash&amp;ref_src=twsrc%5Etfw">#Bitstamp</a><a href="https://t.co/CFhbnG3anf">https://t.co/CFhbnG3anf</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1698409518919520558?ref_src=twsrc%5Etfw">September 3, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>In a noteworthy transaction, Ripple­ transferred around 30 million XRP to Bitstamp. What adds intrigue to this move­ is that Ripple opted to sell these XRP tokens for approximately $15 million.</p> 
<p>Confirmation from Bithomp, a data provider focused on XRP, later verified that Ripple Labs initiated this transfer with the intention of selling it for approximately $15 million.</p> 
<p><strong>Mystery weighs thick </strong></p> 
<p>However, the second transaction, involving over 425 million XRP, moved from the Bitvavo digital exchange to an unidentified wallet, raising questions within the crypto community.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 425,322,309 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> (213,135,940 USD) transferred from <a href="https://twitter.com/hashtag/Bitvavo?src=hash&amp;ref_src=twsrc%5Etfw">#Bitvavo</a> to unknown wallet<a href="https://t.co/vmTEuHvFRN">https://t.co/vmTEuHvFRN</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1698352216396935322?ref_src=twsrc%5Etfw">September 3, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>However, what’s less clear is whether this sale was executed at a profit or if Ripple absorbed a loss.</p> 
<p>In August, Whale Alert documented several XRP transactions of similar sizes, with some originating from Bitvavo. Despite a slight 1.44% dip in XRP’s price following a prior 4.73% increase, Ripple executed these transactions successfully.</p> 
<p>Read More: <a href="https://coinpedia.org/news/ripples-backing-cannot-propel-xrp-price-warn-experts/">Ripple’s Backing Cannot Propel XRP Price – Warn Experts</a></p> 
<h2 id="ripples-clever-strategy" data-name="ripples-clever-strategy" class="wp-block-heading">Ripple’s Clever Strategy</h2> 
<p>To maintain market liquidity and stability, Ripple has carefully managed its XRP holdings. Since 2018, they have been releasing one billion XRP from escrow each month.</p> 
<p>However, what sets Ripple apart is its recent decision to <a href="https://whale-alert.io/transaction/ripple/43367958E42AFD313411D8CA52C1DB72E23E7CBCCDE4750B38E3DCCC40175285">relock approximately 80%</a> of the XRP that was previously released back into escrow. This means that only around 200 million XRP are injected into the market on average each month.</p> 
<p>Ripple’s strate­gic moves have garnere­d significant attention. Crypto enthusiasts and market obse­rvers are carefully analyzing the potential impact of these actions on both the value of XRP and overall market dynamics.</p> 
<p>With XRP’s price fluctuations and Ripple’s evolving strategies, the crypto world remains as intriguing and unpredictable as ever.</p> 
<p>Read More: <a href="https://coinpedia.org/news/top-reasons-why-xrp-is-about-to-become-way-bigger-than-everyone-thinks/">Top Reasons Why XRP is About to Become Way Bigger Than Everyone Thinks</a></p>

Ripple Sells Millions of XRP Tokens; But Did They Clock a Loss?

Table of Contents

CoinPedia News

Other articles published on Sep 4, 2023

Cardano’s (ADA) On-Chain Growth Shines Amidst Crypto Market Turbulence

Ripple News: Can XRP’s Utility Lead to a High Fair Market Value?

Traders Await Trigger as Litecoin Battles Post-Halving Downtrend

Anonymous MEV bot operator refunds $70k in ETH from Curve Finance attack

Nigeria Tops Global Crypto Data With 99% Awareness: ConsenSys Report

LBank's PINs IEO Achieves Over 400% Gain in the First Half Hour

Join our free newsletter for daily crypto updates!