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Ripple could sell 400 million XRP in June; Largest dump in 7 years
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Ripple has prepared its treasury account for what could be the largest monthly XRP dump since 2017.
The company has reserved 400 million XRP tokens worth $208 million for its sell-off in June.
Every month, Ripple—the largest XRP holder and entity behind the XRP Ledger development—sells part of its reserves, inflating the circulating supply.
As usual, it unlocked 1 billion XRP, worth $520 million, on June 1. This happened through the XRP Ledger escrow system from two labeled accounts: ‘Ripple (24)‘ and ‘Ripple (25).’
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2 cryptocurrencies to reach $100 billion market cap in the second half of the year 19 hours agoHowever, in addition to the usual 200 million tokens sent to the treasury each month, the dormant account ‘Ripple (35)‘ added another 200 million XRP to ‘Ripple (1),’ which could mean the company is preparing for a larger dump this month.
As developed, ‘Ripple (24)’ first sent the 200 million XRP for May’s sell-off to ‘Ripple (1)’. Later, the account sent 300 million tokens to ‘Ripple (13)’ and re-locked the amount for an escrow to September 2027.
In the meantime, ‘Ripple (25)’ sent the 500 million unlocked tokens to ‘Ripple (12),’ locking them up until October 2027. All these transactions can be verified on-chain through the block explorer XRP Scan.
