🔥🔥🔥RIPPLE'S HUGE XRP SALE SHAKES THE MARKET: WHAT WERE THE EFFECTS ON THE XRP PRICE❓
Ripple attracted attention with the release of 470 million XRP tokens on November 1, 2024. This move, the company's largest monthly allocation since 2017, shows that Ripple is departing from its traditional token management policy. Ripple usually releases 1 billion XRP every month and puts 800 million of it back into the escrow system to control supply. However, this time, a different path was taken, combined with Ripple's legal process with the SEC, increasing market uncertainties. This development, which took place in early November, coincided with the US presidential elections and increased investor concerns.
The 20% price drop following the 400 million XRP sale in June 2024 has raised similar concerns for the newly released 470 million XRP. While large token movements have caused XRP price volatility in the past, the latest release saw XRP’s value drop by 3.5% to below $0.5, and is currently trading at $0.51 with a slight recovery. Ripple’s release of large escrow assets has sparked controversy in the crypto community, who question XRP’s potential for decentralization.
🔥🔥🔥Ripple’s control over the market and its escrow mechanism are raising concerns in the crypto community that XRP is moving away from a decentralized structure. This move has created uncertainty among XRP investors about what the long-term impact will be‼️
