đ Ripple's XRP Sales Surge: Data Reveals $104 Million in 3 Weeks, Double the Six-Month Average
In an unexpected move, Ripple has embarked on a robust selling spree of XRP, offloading over $104 million worth of the cryptocurrency in just 21 days. This figure is twice the average monthly sales recorded over the past six months, marking a significant deviation from Ripple's historical sales patterns.
đ Sales Breakdown:
According to data from Rippleâs API, the company executed a total of 167.7 million XRP sales between December 10th and December 24th. This translates to an average of 7.9 million XRP sold per day, a substantial increase from the previous six months' daily average of around 3.4 million XRP.
đ€ Speculations and Potential Buyback:
While the motives behind this accelerated sales strategy remain unclear, crypto sleuth Mr. Huber (@Leerzit) speculates that Ripple may be gearing up for a significant buyback, possibly aligning with the approaching year-end. Historically, Ripple has engaged in repurchasing a portion of the XRP it sells, often during the first week of each month.
đ December Dynamics:
Notably, Ripple's XRP sales for December have already surpassed the total sales for November, indicating a notable uptick in the company's selling activity in recent weeks.
đŒ Ripple's Strategic Position:
Ripple has traded a total of 571.8 million XRP since July, encompassing both sales and buybacks, with an average XRP price of $0.55 during this period.
đĄ Market Response and Future Outlook:
Despite the raised eyebrows within the XRP community, the digital asset's market response has been mild, trading at $0.6253 with a 0.62% increase over the last 24 hours. Ripple's recent activity suggests a strategic effort to influence XRP's price amidst the upcoming Bitcoin halving event and the anticipated 2024 bull run.
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