Million

Billion

<p>The post <a rel="nofollow" href="https://coinpedia.org/altcoin/ripples-153-million-xrp-unlock-what-next-for-xrp-price/">Ripple’s 1 Billion XRP Unlock: A Sign of Strength or Weakness?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The recent unlocking of 1 billion XRP tokens by <a href="https://coinpedia.org/news/ripple-news-john-deaton-slams-jim-cramer-over-ignorant-and-fake-statements-on-xrp/">Ripple</a> has sent shockwaves through the XRP investor community, igniting doubts, fears, and uncertainty. This significant move, equivalent to approximately $153 million, was executed in multiple transactions, sparking a crucial question: What lies ahead for XRP?</p> 
<h2 id="ripple-fights-for-stability-1-billion-at-stake" data-name="ripple-fights-for-stability-1-billion-at-stake" class="wp-block-heading"><strong>Ripple Fights for Stability: $1 Billion at Stake?</strong></h2> 
<p>In numerous transactions, Ripple unlocked 1 billion XRP tokens valued at $153 million. Though this is not new, since 2017 this move has been part of Ripple’s ongoing strategy to maintain liquidity in the XRP market and divert its use in cross-border transactions. While this strategy serves the broader purpose of enhancing the utility of XRP, it can have temporary implications for the cryptocurrency’s price.&nbsp;</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/14.0.0/72x72/1f513.png" alt="🔓" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f513.png" alt="🔓" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f513.png" alt="🔓" class="wp-smiley" style="height: 1em; max-height: 1em;"> 100,000,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> (51,074,676 USD) unlocked at <a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw">#Ripple</a><a href="https://t.co/20YSfxXdg0">https://t.co/20YSfxXdg0</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1697398932018520202?ref_src=twsrc%5Etfw">September 1, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Leading cryptocurrency tracking platform, Whale Alert, reported that Ripple initiated the unlocking process through four transactions on September 1. The first transaction unveiled 300 million XRP, equivalent to $153 million. Subsequently, an additional 100 million XRP (valued at roughly $51 million) were unleashed. The final two transactions saw Ripple releasing 200 million and 400 million XRP, injecting over $300 million into the market. This influx of XRP tokens is nothing short of significant.</p> 
<p>Read More: <a href="https://coinpedia.org/news/ripple-xrp-news-expert-forecasts-xrps-impact-on-ripples-ipo-and-balance-sheet/">Here’s How XRP Could Boost Ripple’s IPO Valuation!</a></p> 
<h2 id="the-binance-transfer" data-name="the-binance-transfer" class="wp-block-heading">The Binance Transfer </h2> 
<p>Interestingly, soon after the XRP unlock, a significant XRP holder, known as “whale,” transferred nearly 20 million XRP, valued at more than $10 million, to the Binance cryptocurrency exchange. This transaction occurred in the wake of Ripple’s release of one billion XRP.</p> 
<p>However, the release’s aftermath is more important. For the <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/">XRP price</a> stability and On-Demand Liquidity (ODL) needs, Ripple normally returns a large majority of these funds back into escrow within a few days.</p> 
<p>Meanwhile, the XRP community has been eagerly awaiting further updates from Ripple, especially following its recent legal victory against the U.S. Securities and Exchange Commission (SEC). Ripple CEO <a href="https://coinpedia.org/news/xrp-lawsuit-takes-a-turn-as-ripple-ceo-retains-new-legal-advocate/">Brad Garlinghouse</a> has confirmed that the company plans to celebrate its triumph with a party scheduled for September 29 in New York City.&nbsp;</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">As promised – it’s time for that proper victory party. <br><br>The last few years have been quite the journey and I look forward to sharing a celebratory toast on Sept 29 in NYC! <a href="https://t.co/9YDQGnK6Pg">https://t.co/9YDQGnK6Pg</a></p>— Brad Garlinghouse (@bgarlinghouse) <a href="https://twitter.com/bgarlinghouse/status/1696258219184726218?ref_src=twsrc%5Etfw">August 28, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 id="xrp-price-action-analysis" data-name="xrp-price-action-analysis" class="wp-block-heading">XRP Price Action Analysis </h2> 
<p>Regarding XRP’s price action, some analysts have pointed to an ascending triangle pattern on the four-hour chart, suggesting a potential breakout of around 12% to reach $0.6. But looking at this bullish scenario it largely depends on the availability of sufficient liquidity, which may be achieved by the recent release of one billion XRP.&nbsp; XRP is currently trading at $0.50, down 3% in 24 hours from $0.504 to $0.528. The XRP community awaits how these developments will improve XRP usage and value in the coming days.</p> 
<p>This Might Interest You: <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> 
<p>With the recent victory, Ripple is sure they are not heading down but the question arises, How will Ripple’s release of one billion XRP affect the price to be seen?</p>

Ripple’s 1 Billion XRP Unlock: A Sign of Strength or Weakness?

Table of Contents

CoinPedia News

Alte articole publicate pe 1 sept. 2023

Fakta Cara Kerja Burn Token Shibarium

Binance Phases Out BUSD: What You Need to Know About This Major Crypto Shift

PG Stock Forecast: Is (NYSE: PG) Price Capable To Rise More?

Western Digital Corporation (WDC Stock): Next Destination – $50?

XRP Stirs New Intrigue as Key Metrics Go Parabolic

XRPL Grants Wave 7 Arrives, Calls Projects With DEX and DeFi Focus

Join our free newsletter for daily crypto updates!