Biden

April

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 <p>Ripple, the company behind the XRP Ledger (XRP) development, will unlock 1 billion tokens on June 1, worth $520 million. This is part of Ripple’s monthly sell-offs, which could negatively impact the XRP price in the following weeks.</p>
 <p>Historically, Ripple has been unlocking 1 billion tokens through escrows, finalized on the first day of every month since 2017. Until April, the company has been using ‘Ripple (22)’ and ‘Ripple (23),’ according to <em>XRPScan,</em> to manage the escrows.</p>
 <p>However, these accounts no longer hold active unlocking contracts, and May has already used two different addresses, as Finbold reported. The wallets ‘Ripple (24)‘ and ‘Ripple (25)‘ currently hold the 1 billion XRP monthly unlock escrows until January 2025.</p>
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 <figure class="wp-block-image size-large"><img width="1024" height="415" src="https://cdn.thebittimes.com/images/2024/05/31/dab17f7c8cdb8a87bec96ec087b79b33.webp" alt="">
  <figcaption>
   Ripple 24 and Ripple 25 assets summary, escrows. Source: <em>XRPScan</em>
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 <h2 class="wp-block-heading" id="h-what-happened-after-ripple-s-xrp-token-<a rel=">unlock-in-may"&gt;<strong>What happened after Ripple’s XRP token <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/unlock.html">unlock</a> in May</strong></h2>
 <p>The escrow system <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/unlock.html">unlock</a>ed 1 <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/billion.html">billion</a> XRP on May 1 from ‘Ripple (24)’ and ‘Ripple (25)’ accounts. Later, Ripple reserved 200 million tokens for the <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/sell.html">sell-</a>off and re-locked the rest in escrows for September 2027.</p>
 <figure class="wp-block-image size-large"><img width="1024" height="555" src="https://cdn.thebittimes.com/images/2024/05/31/ea55c60c44464bafe18508dca24430f8.webp" alt="">
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   Monthly Ripple (XRP) unlock – May, 2024. Source: Finbold
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 </figure>
 <p>As developed, ‘Ripple (24)’ sent 200 million XRP to ‘Ripple (1)‘, the treasury account. On May 13, the company dumped 75% of the reserved amount, selling 150 million XRP. Later, on May 24, Ripple got rid of the remaining 50 million XRP, closing its month’s sell-off.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" width="1024" height="208" src="https://cdn.thebittimes.com/images/2024/05/31/3a1d67432e65bb631a8dbc648733ae4c.webp" alt="">
  <figcaption>
   Ripple (1) account summary and transactions. Source: <em>XRPScan</em>
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 <h2 class="wp-block-heading" id="strong-xrp-price-analysis-amid-ripple-sell-offs-strong"><strong>XRP price analysis amid Ripple sell-offs</strong></h2>
 <p>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>In 2024, only five of the 12 sell-off days had positive price action: February 5, 11, April 14, May 13, and 20. All the other seven days were of local crashes, evidencing the importance of monitoring the company’s activities.</p>
 <p>Moreover, XRP had a negative monthly performance in three of the first five months of 2024, year-to-date. So far, May has displayed a neutral price action from its opening when Ripple <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/unlock.html">unlock</a>ed 1 <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/tag/billion.html">billion</a> XRP on May 1.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" width="1024" height="662" src="https://cdn.thebittimes.com/images/2024/05/31/1621ae61d0652149205c3b678799ba1b.webp" alt="">
  <figcaption>
   XRP/USD daily price chart, Ripple sell-off illustrated. Source: <em>TradingView </em>/ Finbold
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 <p>As of this writing, XRP was trading at $0.52 per token.</p>
 <p><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/brace-for-a-sell-off-ripple-to-unlock-1-billion-xrp-in-june-tbt90692.html">https://thebittimes.com/brace-for-a-sell-off-ripple-to-unlock-1-billion-xrp-in-june-tbt90692.html</a></p>

Brace for a sell-off: Ripple to unlock 1 billion XRP in June

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