XRP NEWS
Despite the crash, Ripple dumps 100 million XRP into a sinking market
Ripple, the company behind the XRP token, sold 100 million tokens on Sunday, as crypto markets come under pressure following the escalation of the Iran-Israel conflict. This unusual sale raises concerns about the potential impact on its price.
Ripple continues monthly XRP sales
As per its monthly practice, Ripple released 1 billion XRP from its escrow account on April 1. 200 million were transferred to his “Ripple (1)” cash account.
However, on Sunday, Ripple moved half of that amount, or 100 million XRP (around $50 million), to an unknown address “rP4X2…sKxv3,” which it usually uses for its sales. This operation , carried out outside the usual schedule, raises questions about the company's strategy.
Historical analysis of XRP sales by Ripple highlights a correlation with subsequent price declines. In 2023, XRP fell 6 days out of 8 when Ripple carried out liquidations.
With 100 million XRP still available this month and geopolitical tensions linked to the Iran-Israel conflict weighing on the entire crypto market, investors fear further downward pressure on the price, currently at $0.485.
Overall, the outlook for XRP depends on how these factors evolve in the coming days and weeks. Keeping an eye on news updates and market trends can provide valuable insights into the token's future direction.
