Cryptocurrency

Injective

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 <p class="paragraph">Ripple has already sold half of the 200 million XRP reserved for its treasury, following the unlock of 1 billion tokens in January. On January 16, the company spent 80 million from the second half of the reserved tokens, which could create selling pressure on exchanges.</p>
 <p class="paragraph">Notably, Ripple sent the 80 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> XRP, worth $45.6 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>, to the same account that previously received Ripple’s sell-offs.</p>
 <p class="paragraph">‘Ripple (1)’, the company’s treasury account, sent the <a rel="noopener noreferrer nofollow" title="tokens" href="https://thebittimes.com/tag/tokens.html">tokens</a> to ‘rP4X2…sKxv3’, currently idle on this account’s balance. Interestingly, the former still has a remaining balance worth more than $26.4 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> USD in 46.34 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> XRP.</p>
 <p class="paragraph">In this context, the payment could be routed through two other intermediate addresses before reaching centralized exchange accounts if this sell-off behaves like the most recent one reported on January 9.</p>
 <h2 class="wp-block-heading" id="h-xrp-price-analysis-and-the-ripple-effect">XRP price analysis and the Ripple effect</h2>
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 <p class="paragraph">Ripple’s recent sell-off of 80 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> XRP significantly exceeds the 24-hour exchange volume of 1.55 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>, according to <em>CoinMarketCap</em><em>.</em> This can increase liquidity and potential downward pressure on the <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>’s price.</p>
 <p class="paragraph">Particularly, XRP experienced a 5.35% loss in price from January 8 to January 10, right after January’s first sale.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="661" src="https://cdn.thebittimes.com/images/2024/01/17/6c0a0575789faca389c37a3cf11051fd.webp" alt class="wp-image-149599" srcset="https://cdn.thebittimes.com/images/2024/01/17/6c0a0575789faca389c37a3cf11051fd.webp 1024w, https://cdn.thebittimes.com/images/2024/01/17/6c0a0575789faca389c37a3cf11051fd.webp 300w, https://cdn.thebittimes.com/images/2024/01/17/6c0a0575789faca389c37a3cf11051fd.webp 768w, https://cdn.thebittimes.com/images/2024/01/17/6c0a0575789faca389c37a3cf11051fd.webp 1536w, https://cdn.thebittimes.com/images/2024/01/17/6c0a0575789faca389c37a3cf11051fd.webp 1875w" sizes="(max-width: 1024px) 100vw, 1024px">
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   XRP/USD 4-hour price chart. Source: <em>TradingView</em>
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 <p class="paragraph">Now, XRP trades at $0.57 per token amid uncertainties related to the SEC’s lawsuit against Ripple. It is worth mentioning that the U.S. agency filed a motion related to the company’s XRP sales.</p>
 <p class="paragraph">Such large-scale disposals can cause concern among investors and holders. Essentially, the increased supply in the market may lead to a decrease in value if demand doesn’t keep pace.&nbsp;</p>
 <p class="paragraph">This action may also signal to the market a possible lack of confidence in the <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>’s short-term performance, raising skepticism and potentially triggering a sell-response from other holders looking to mitigate their losses.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ripple-sells-80-million-xrp-of-its-unlocked-tokens-in-january-tbt76846.html">https://thebittimes.com/ripple-sells-80-million-xrp-of-its-unlocked-tokens-in-january-tbt76846.html</a></p>

Ripple sells 80 million XRP of its unlocked tokens in January

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