Ethereum

Bitcoin

Impact

April

<p>The post <a href="https://coinpedia.org/news/xrp-news-ripples-massive-xrp-sell-offs-how-they-impact-the-tokens-price/">XRP News: Ripple’s Massive XRP Sell-Offs, How They Impact the Token’s Price</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Ripple, XRP’s largest holder, is responsible for monthly unlocks and sell-offs that impact the token’s price. So far, the company has sold 1.826 billion XRP from its Treasury account, labeled as ‘<a href="https://xrpscan.com/account/rBg2FuZT91C52Nny68houguJ4vt5x1o91m" target="_blank" rel="noreferrer noopener nofollow">Ripple (1)</a>‘ on XRPScan. At current prices, this amount is worth $1.07 billion, although the nominal value of each sale has varied year-to-date.</p> 
<h2 class="wp-block-heading" id="h-ripple-s-massive-offloading-of-xrp-nbsp"><strong>Ripple’s Massive Offloading of XRP&nbsp;</strong></h2> 
<p>In January, Ripple sold 226 million XRP in three days, which resulted in negative price action for the token. In February, 260 million XRP were sold in another three days, two of which had positive performance. In March, 240 million XRP were sold from the treasury account in two red days.</p> 
<p>Moving further, Ripple sold 200 million XRP on two days each of April and May, registering 3 days of gains. But June saw the company’s largest monthly dump in history, offloading a whopping 400 million XRP in two losing days. Just recently, it sold 300 million XRP in two batches of 150 million each, as the price surged.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-is-xrp-price-recovering"><strong>Is XRP Price Recovering?</strong></h2> 
<p><a href="https://markets.coinpedia.org/xrp/" target="_blank" rel="noreferrer noopener">XRP</a> is trading at $0.603, up 2.3% in the last 24 hours. The nearly stable performance is due to a recent recovery from the massive drop in early July. Ripple’s token is in a downtrend in the 2024 price chart, marking lower highs and lows throughout the year. This could result from the company’s selling activity and consequent supply inflation.</p> 
<p>With a current 55.91 billion XRP circulating supply, Ripple’s unlocks and sales in 2024 have inflated the supply by 3.26%, equal to the YTD observed loss. XRP traders and investors must closely monitor Ripple’s movements to improve their financial decision-making. Notably, on August 1, Ripple is all set to unlock another 1 billion tokens and sell a fraction of them, as has happened so far.</p> 
<h2 class="wp-block-heading" id="h-xrp-s-outperforms-eth-and-btc"><strong>XRP’s Outperforms ETH and BTC!</strong></h2> 
<p>Notably, the XRP price reached $0.60 on Monday, July 22, gaining 2% over the weekend. <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" target="_blank" rel="noreferrer noopener">XRP price</a> led with a remarkable 12% rebound from $0.54 on July 19 to reclaim the $0.60 level. However, Bitcoin and <a href="https://markets.coinpedia.org/ethereum/" target="_blank" rel="noreferrer noopener">Ethereum</a> were up by only 7% and 5% during the same trading period. This followed the news of <a href="https://coinpedia.org/news/breaking-joe-biden-officially-withdraws-from-2024-presidential-race/" target="_blank" rel="noreferrer noopener">Joe Biden’s decision to quit the Presidential re-election race</a>. A&nbsp; Trump victory presents a more favorable outlook for XRP and its administrators at Ripple Labs.</p> 
<p>This Might Interests You: <a href="https://coinpedia.org/news/could-ripple-vs-sec-settlement-lead-to-xrp-price-rally-what-to-expect-on-july-25th/" target="_blank" rel="noreferrer noopener">Ripple vs. SEC Settlement to Trigger XRP Price Rally: What to Expect on July 25th?</a></p>

XRP News: Ripple’s Massive XRP Sell-Offs, How They Impact the Token’s Price

Table of Contents

CoinPedia News

دیگر آرٹیکلز 22 جولائی، 2024 پر پبلش کیے گئے ہیں

Will the Rise in Bitcoin Continue? Report from JP Morgan that will upset investors!

Online Casinos That Accept Crypto

Binance.US Gets Green Light to Invest Customer Funds in US Treasury Bills

Most Trending Cryptocurrency on Base Chain Now – Mfercoin, Commonwealth, Crash On Base

BNB Chain Burns $970M in Latest Token Event

Time Memecoin: Will $Time be any Different than $Water or $Beer?

Join our free newsletter for daily crypto updates!