2024

Bitcoin

April

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 <p class="paragraph">Ripple sold the remaining $27 million worth of 50 million XRP tokens from this month’s sell-off reserves on May 20. This dump marks the end of May’s tokens unlock, and the company prepares for June’s 1 billion XRP release.</p>
 <p class="paragraph">On May 1, Ripple released 1 billion of its tokens from the initial distribution, as it does monthly. The company then sent 200 million XRP to its treasury account and locked the remaining 800 million in new escrows.</p>
 <p class="paragraph">Notably, Ripple sold 75% of these <a rel="noopener noreferrer nofollow" title="reserves" href="https://thebittimes.com/tag/reserves.html">reserves</a> on May 13 at prices nearly 10% lower than this most recent activity.&nbsp;<br>As usual, the two selling activities resulted from the treasury account, labeled <em>Ripple (1)</em>, sending 200 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> XRP total to the unlabeled account <em>rP4X2…sKxv3</em>.</p>
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 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="208" src="https://cdn.thebittimes.com/images/2024/05/21/071d8762bf1920016e436e25b12ae7e5.webp" alt="" class="wp-image-177257" srcset="https://cdn.thebittimes.com/images/2024/05/21/071d8762bf1920016e436e25b12ae7e5.webp 1024w, https://cdn.thebittimes.com/images/2024/05/21/071d8762bf1920016e436e25b12ae7e5.webp 300w, https://cdn.thebittimes.com/images/2024/05/21/071d8762bf1920016e436e25b12ae7e5.webp 768w, https://cdn.thebittimes.com/images/2024/05/21/071d8762bf1920016e436e25b12ae7e5.webp 1536w, https://cdn.thebittimes.com/images/2024/05/21/071d8762bf1920016e436e25b12ae7e5.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Ripple (1) account summary, assets, transactions. Source: <em>XRPScan</em>
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 <h2 class="wp-block-heading" id="h-what-happened-to-ripple-may-s-<a rel=" dofollow title="dumps" href="https://thebittimes.com/tag/dumps.html" rel="noopener noreferrer nofollow">dumps"&gt;<strong>What happened to Ripple May’s <a rel="noopener noreferrer nofollow" title="dumps" href="https://thebittimes.com/tag/dumps.html">dumps</a>?</strong></h2>
 <p class="paragraph">After receiving the 150 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> XRP this month, Ripple’s destination account <em>rP4X2…sKxv3</em> distributed some tokens to four unlabeled accounts. Interestingly, the same accounts were used in April, with similar amounts for each.</p>
 <p class="paragraph">In particular, rhWt2…E32hk received 100 million out of the 105.752 million XRP payments and distributed it to one more account before reaching cryptocurrency exchange addresses. Finbold has observed this similar pattern being played month after month with Ripple’s dumps.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="378" src="https://cdn.thebittimes.com/images/2024/05/21/d5d11dda624ba3782da956a599f647ee.webp" alt="" class="wp-image-177258" srcset="https://cdn.thebittimes.com/images/2024/05/21/d5d11dda624ba3782da956a599f647ee.webp 1024w, https://cdn.thebittimes.com/images/2024/05/21/d5d11dda624ba3782da956a599f647ee.webp 300w, https://cdn.thebittimes.com/images/2024/05/21/d5d11dda624ba3782da956a599f647ee.webp 768w, https://cdn.thebittimes.com/images/2024/05/21/d5d11dda624ba3782da956a599f647ee.webp 1536w, https://cdn.thebittimes.com/images/2024/05/21/d5d11dda624ba3782da956a599f647ee.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption"><em>rP4X2…sKxv3</em> account summary, assets, transactions. Source: <em>XRPScan</em>
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 </figure>
 <p class="paragraph">However, <em>rP4X2…sKxv3</em> still holds a balance of 135.16 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> XRP, of which over 94 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> are from May unlocks.</p>
 <h2 class="wp-block-heading" id="strong-xrp-price-analysis-strong"><strong>XRP price analysis</strong></h2>
 <p class="paragraph">It is noteworthy how Ripple sales directly impact XRP’s price, considering the supply pressure they create on the spot market. Historically, XRP suffered a local crash most of the time Ripple sold its tokens.</p>
 <p class="paragraph">In 2024, only four of the 11 sell-off days had positive price action: February 5, 11, April 14, and May 13. All the other eight days were of local crashes, evidencing the importance of monitoring the company’s activities.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="662" src="https://cdn.thebittimes.com/images/2024/05/21/60730cdbc3fe6f1ee7556a79fcae56cd.webp" alt="" class="wp-image-177259" srcset="https://cdn.thebittimes.com/images/2024/05/21/60730cdbc3fe6f1ee7556a79fcae56cd.webp 1024w, https://cdn.thebittimes.com/images/2024/05/21/60730cdbc3fe6f1ee7556a79fcae56cd.webp 300w, https://cdn.thebittimes.com/images/2024/05/21/60730cdbc3fe6f1ee7556a79fcae56cd.webp 768w, https://cdn.thebittimes.com/images/2024/05/21/60730cdbc3fe6f1ee7556a79fcae56cd.webp 1536w, https://cdn.thebittimes.com/images/2024/05/21/60730cdbc3fe6f1ee7556a79fcae56cd.webp 1876w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   XRP/USD daily price chart, Ripple sell-off illustrated. Source: <em>TradingView</em>/Finbold
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 </figure>
 <p class="paragraph">As of this writing, XRP was trading at $0.54 per token, up nearly 4% from Ripple’s most recent dump.</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-the-remaining-50-million-xrp-of-may-reserves-tbt89128.html">https://thebittimes.com/ripple-dumps-the-remaining-50-million-xrp-of-may-reserves-tbt89128.html</a></p>

Ripple dumps the remaining 50 million XRP of May reserves

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