Ripple will sell 150 million XRP in June
In the news of some news sources, Ripple said it will sell 150 million XRP tokens worth about 78 million USD this June.
On June 1, Ripple unlocked 1 billion XRP from the initial distribution, locked until 2027. Ripple deposited 200 million XRP into a treasury account and locked 800 million into a new escrow wallet.
Wallet address “Ripple (35)” deposited an additional 200 million tokens into the treasury, bringing the total hoard to 400 million XRP. The sale from the treasury account “Ripple (1)” sent tokens to the anonymous account “rP4X2hTa”, causing inflation of the XRP supply by placing tokens that had never been in circulation.
Up to now, the money is still in the account “rP4X2hTa”. This amount will likely be transferred to the “rhWt2bhR” account and other intermediary addresses before being listed on CEX, as happened in previous sales.
Since the beginning of the year, only 5 out of 12 XRP sell-offs have had a positive effect on the price on February 5, February 11, April 14, May 13 and May 20, while 7 remaining negative impact. XRP's monthly performance in the first half of 2024 also underperformed, with three out of five months showing declines.
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