XRP’s peak at $3.84 on Jan 4, 2018, remains unbroken, with current trading at $0.4948.
Ripple holds over 40 billion XRP, potentially worth $153 billion at $3.84 per coin.
Data shows 1.75M wallets hold 0-20 XRP, with minimal impact on liquidity at $3.84.
Ripple’s possible impact on XRP’s price trend has the XRP community abuzz with speculative activity. Fearing that Ripple will prevent XRP from reaching its previous all-time high of $3.84, several members of the XRP Army voice their concerns.
Inspiration from Ripple’s Monthly XRP Sales
This speculation stems from Ripple’s regular XRP sales and the belief that a surge to $3.84 could trigger profit-taking by long-term holders, potentially causing Ripple to lose retail liquidity.
A recent post ignited this debate, prompting diverse opinions within the community. One viewpoint suggests that Ripple’s delay in achieving $3.84 could indicate reluctance to facilitate such a price surge.
Yeah I’ve thought this too. I don’t want to believe it’s true but yeah retail owns so much of it and they have starved the whole XRP community for so long that they could be in a situation where they can’t let it rip. Idk.
— Wen Moon – Raise Hell, Praise Dale (@WenMoonTok) June 18, 2024
The Significance of $3.84 for XRP
The $3.84 mark holds immense significance as XRP’s historical peak, reached on January 04, 2018. Despite subsequent bull markets, XRP has yet to revisit this level, now trading at $0.4933, representing a substantial decline.
While some argue that retail investors’ potential exit at $3.84 could disrupt XRP’s liquidity, others contend that their impact is minimal based on data from the XRP Rich List that approximately 1.75 million XRP wallets have 0-20 tokens, totaling 21.27 million XRP. Around 2.42 million wallets have 20-500 tokens, totaling 181.86 million XRP, while 160 wallets have over 6 billion XRP.
XRP enthusiast John K, based in New York, suggests that Ripple preventing XRP from reaching $3.84 would be counterproductive. He highlights Ripple’s substantial XRP holdings and the potential benefits of a $3.84 price surge.
If that is true it’s self defeating – the very reason price keeps falling is the increased perception that price will never rise due to constant monthly dumps by Ripple – if they refuse to let XRP reach/exceed ATH at some point price will completely collapse back to sub 20 cents
— John K (@JohnKandy9) June 18, 2024
Ripple’s Potential Gain
Ripple’s holdings, exceeding 40 billion XRP in spendable balance and escrow, valued at approximately $20 billion. Therefore, a $3.84 price per XRP puts the company on a reserve of over $153 billion contradicting notions of Ripple suppressing the price due to retail exits.
Ultimately, XRP’s price is subject to market dynamics beyond Ripple’s influence. Even if Ripple aimed to suppress prices, its vast holdings, largely escrowed, limit immediate market impact.
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