Ripple's $200 Million XRP Sell Off Highlights September Effect
Tuesday, 24 September 2024, 12:34
Ripple's Recent Sell Off: An Overview
Ripple's recent activities have revealed a significant sell off of XRP, with over $200 million worth sold during the infamous September effect. In September alone, Ripple offloaded a total of 350 million XRP from its reserves. On September 23, a substantial 200 million XRP was transferred, sparking reactions within the market. Prior to this, another 150 million XRP was sold on September 13, leading to notable shifts in the token's price.
XRP Price Dynamics Amid Selling Spree
- The recent sell off has seen XRP trading at approximately $0.589, reflecting a slight recovery.
- Previous sales have historically led to both crashes and rebounds in price.
- Investor confidence remains as analysts predict XRP could reach $1 within weeks.
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.