Bitcoin

Impact

when

April

<p>Ripple, the company behind the XRP token, sold 100 million tokens on Sunday, as crypto markets are under pressure due to the escalating conflict between Iran and Israel. This unusual sale raises concerns about the potential impact on its price.</p> 
<h2 id="h-ripple-continues-its-monthly-xrp-sales">Ripple Continues Its Monthly XRP Sales</h2> 
<p>In line with its monthly practice, Ripple unlocked 1 billion XRP from its escrow account on April 1st. 200 million were transferred to its treasury account “Ripple (1)”.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1"> 
 </div> 
</div> 
<p>However, on Sunday, Ripple moved half of that amount, 100 million XRP (approximately $50 million), to an unknown address “rP4X2…sKxv3”, which it usually uses for its sales. This <a href="https://finbold.com/ripple-sells-100-million-xrp-as-geopolitical-tensions-escalate/" target="_blank" rel="noreferrer noopener">transaction</a>, carried out outside of the usual schedule, raises questions about the company’s strategy.</p> 
<div class="affiliate-button"> <span class="affiliate-button__link obfuscated-link" data-href="https://www.cointribune.com/newsletters/" data-target="_blank" data-rel="noreferrer noopener">Découvre notre newsletter gratuite</span> <span class="affiliate-button__disclaimer obfuscated-link" data-href="https://www.cointribune.com/en/sponsored-content/" data-target="_blank" data-rel="noreferrer noopener">Ce lien utilise un programme d’affiliation</span> 
</div> 
<p>An historical analysis of XRP sales by Ripple highlights a correlation with subsequent price drops. In 2023, XRP fell on 6 out of 8 occasions when Ripple proceeded with liquidations.</p> 
<p>With 100 million XRP still available this month and the geopolitical tensions related to the Iran-Israel conflict weighing on the entire crypto market, investors fear further downward pressure on the price, currently at $0.485.</p>  
<div class="tradingview-widget-container tradingview--mini-chart"> 
 <div class="tradingview-widget-container__widget"></div> 
 <div class="tradingview--mini-chart--dark"> 
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:XRPUSDT","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"dark"}</script> 
 </div> 
 <div class="tradingview--mini-chart--light"> 
  <script type="text/javascript" src="https://s3.tradingview.com/external-embedding/embed-widget-mini-symbol-overview.js" async>{"symbol":"BINANCE:XRPUSDT","width":350,"height":220,"isTransparent":false,"autosize":false,"dateRange":"12M","trendLineColor":"rgba(253,64,19,1)","underLineColor":"rgba(253,64,19,0.6)","underLineBottomColor":"rgba(253,64,19,0)","locale":"en","largeChartUrl":false,"colorTheme":"light"}</script> 
 </div> 
 <div class="tradingview-widget-copyright">
  <a href="https://fr.tradingview.com/symbols/XRPUSDT/?exchange=BINANCE" rel="noopener" target="_blank"><span class="text-primary-color">XRPUSDT chart</span></a> by TradingView
 </div> 
</div>  
<h2 id="h-potential-impact-on-ripple-s-price">Potential Impact on Ripple’s Price</h2> 
<p>Despite this unfavorable context, many observers see a bright future for XRP as the next Bitcoin “halving” approaches, which will halve mining rewards. Historically, this event has often triggered price increases in altcoins such as XRP.</p> 
<p>Moreover, the recent court decision estimating that XRP is not a security has reassured investors on the regulatory front. Renowned analysts predict that this cryptocurrency could retest its historical highs of $3.84 around the halving, or even climb to $5.85 by 2025, based on a consistent bullish trend.</p> 
<p>Despite the current volatility, XRP maintains its 7th place among cryptocurrencies with a market capitalization close to $30 billion. Technical indicators and chart analysis suggest that a rebound is possible if the support at $0.46 holds.</p> 
<p>However, a failure could drop XRP to $0.42. The coming weeks are crucial for Ripple, between market dynamics and tense geopolitical context.</p> 
<div class="affiliate-button"> <a class="affiliate-button__link" href="https://accounts.binance.com/en/register?ref=35547494" target="_blank" rel="noreferrer noopener">Acheter ses premières cryptos avec Binance</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noreferrer noopener">Ce lien utilise un programme d’affiliation</a> 
</div>

Despite the crash, Ripple pours 100 million XRP into a sinking market

Obsah

Cointribune EN

Ďalšie články zverejnené 15. 4. 2024

Aktivitas Whale SHIB Melejit, Ada Aksi Serok-serok di Tengah Koreksi Pasar

OpenAI Expands into Japan with New Leadership

Norway’s Government Set To Outlaw Crypto Mining

IRS investigation chief expects uptick in crypto tax evasion this year

SOL Coin Price Trends and Predictions

Dogecoin (DOGE) Stays Strong: 85% of Holders in Profit as Selling Slows

Pripojte sa k nášmu bezplatnému bulletinu a získajte denné aktualizácie kryptomien!