Ripple Sell-off: Analyzing the 150 Million XRP Movement for September

Friday, 13 September 2024, 11:58

Ripple's sell-off of 150 million XRP marks an important point in September's market activity. The company moved $85.50 million worth of XRP, raising concerns about the cryptocurrency's price trend. This movement comes amidst a slight recovery for XRP, presenting a unique market dynamic. Understanding these selling pressures is crucial for XRP investors this month.
Finbold
Ripple Sell-off: Analyzing the 150 Million XRP Movement for September

Ripple's September Sell-off Report

Ripple's recent sell-off involved the transfer of 150 million XRP tokens worth approximately $85.50 million. This activity creates notable selling pressure, particularly as the price of XRP shows signs of recovery.

Details of the XRP Transfer

  • On September 13, Ripple executed a significant transfer from the 'Ripple (1)' address to an unknown recipient.
  • This marks the company’s first major selling event for September, with 200 million XRP still held in their treasury.

Context of the Sell-off

Earlier in the month, Ripple unlocked a total of 1 billion XRP, later re-locking a significant portion. The recent market activity raises questions about future XRP prices amidst ongoing fluctuations. Historically, Ripple's additional token sales have influenced market dynamics considerably.

XRP Price Implications

The current price of XRP stands at $0.568, reflecting a 6.05% increase over the week but still lower than late August values. The anticipated sell-off coincides with expected price adjustments following supply releases from Ripple.

Market Reactions

Recent regulatory shifts and announcements, such as the establishment of an XRP trust by Grayscale, may counterbalance potential downward pressures from sales. Stakeholders should closely monitor these developments.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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