Cryptocurrency

Monero

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 <p class="paragraph">Ripple reserved 200 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> XRP ($100 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>) for its treasury following February’s 1 billion tokens unlock. On February 5, the company first moved to sell over half of this month’s supply inflation, according to onchain data.</p>
 <p class="paragraph">Notably, the sell-off followed a similar pattern to movements observed in the past. However, it started with a transaction worth $60 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> in 120 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> XRP tokens, the highest initial monthly payment since February 2023.</p>
 <p class="paragraph">‘Ripple (1)’, Ripple’s known treasury account, sent the tokens to ‘rP4X2…sKxv3’ just five days after unlocking them. This is the same address where the company sent its sell-offs in previous months.</p>
 <p class="paragraph">As of writing, Ripple still holds 80 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> XRP from February’s unlock.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="180" src="https://cdn.thebittimes.com/images/2024/02/08/286b9b36bd579eb6807568ca888b545c.webp" alt class="wp-image-153743" srcset="https://cdn.thebittimes.com/images/2024/02/08/286b9b36bd579eb6807568ca888b545c.webp 1024w, https://cdn.thebittimes.com/images/2024/02/08/286b9b36bd579eb6807568ca888b545c.webp 300w, https://cdn.thebittimes.com/images/2024/02/08/286b9b36bd579eb6807568ca888b545c.webp 768w, https://cdn.thebittimes.com/images/2024/02/08/286b9b36bd579eb6807568ca888b545c.webp 1536w, https://cdn.thebittimes.com/images/2024/02/08/286b9b36bd579eb6807568ca888b545c.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Ripple (1) account summary – assets. Source: <em>XRP Scan</em>
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 </figure>
 <h2 class="wp-block-heading" id="h-what-happened-to-ripple-s-120-million-xrp-paid-to-rp4x2-skxv3">What happened to Ripple’s 120 million XRP paid to ‘rP4X2…sKxv3’?</h2>
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 <p class="paragraph">After receiving Ripple’s payment, ‘rP4X2…sKxv3’ transacted with three other accounts. It first sent 3 million XRP to ‘rBQhw…vZkN5’ and 17 million to&nbsp; ‘rhWt2…E32hk’ at 8:59 pm (UTC). Later on the same day, ‘rJqiM…La8nE’ received 1 million XRP.</p>
 <p class="paragraph">On February 6, ‘rhWt2…E32hk’ received another 9.55 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> XRP, for a total of 26.55 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> XRP. The original receiver still has 89.45 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> XRP ready to dump on cryptocurrency exchanges, worth nearly $45 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="573" src="https://cdn.thebittimes.com/images/2024/02/08/b7bda3a48059e492294e4d0d0b640506.webp" alt class="wp-image-153744" srcset="https://cdn.thebittimes.com/images/2024/02/08/b7bda3a48059e492294e4d0d0b640506.webp 1024w, https://cdn.thebittimes.com/images/2024/02/08/b7bda3a48059e492294e4d0d0b640506.webp 300w, https://cdn.thebittimes.com/images/2024/02/08/b7bda3a48059e492294e4d0d0b640506.webp 768w, https://cdn.thebittimes.com/images/2024/02/08/b7bda3a48059e492294e4d0d0b640506.webp 1536w, https://cdn.thebittimes.com/images/2024/02/08/b7bda3a48059e492294e4d0d0b640506.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   ‘rP4X2…sKxv3’ account summary – assets. Source: <em>XRP Scan</em>
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 </figure>
 <p class="paragraph">These tokens could become selling pressure in the markets at any moment, impacting XRP’s price.</p>
 <p class="paragraph">It is important to understand that Ripple usually liquidates their holdings in strategic moments. Essentially, the sell-offs represent a relevant weight of the token’s 24-hour trading volume, capable of influencing short-term price action.</p>
 <p class="paragraph">Recently, the institution’s Co-founder and Executive Chairman, Chris Larsen, lost $112 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> worth of XRP due to a hack. The token’s price reacted negatively to the expectation of a sell-off, which had a similar nominal value to this month’s reserves.</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-dumps-120-million-xrp-in-just-5-days-tbt79208.html">https://thebittimes.com/ripple-dumps-120-million-xrp-in-just-5-days-tbt79208.html</a></p>

Ripple dumps 120 million XRP in just 5 days

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