🚨Ripple Moves 150 Million XRP: Is a Major Sell-Off Coming?'🚨
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Ripple has just moved 150 million XRP, worth about $66 million, from its reserves to various crypto wallets. While this move didn't directly impact XRP's price, the altcoin has been feeling the heat lately.
On July 1, Ripple released a whopping 1 billion XRP from its initial distribution, sending 200 million to its treasury and holding onto 800 million. Additionally, 100 million tokens were sent from wallet Ripple (35), totaling 300 million XRP. The transaction was carried out via Ripple (1), with 150 million XRP landing in wallet rP4X2hTa.
The rP4X2hTa account still holds 202 million tokens, while 50 million were transferred to the rhWt2bhR account, which usually signals XRP’s next stop at exchanges. The rhWt2bhR account then sent 45.279 million tokens to another wallet, r4wf7e9W, which later moved approximately 71.55 million XRP, worth about $31.5 million, to centralized exchanges like Bitstamp, BTC Markets, and Bitso. Collectively, these wallets still hold over $103 million worth of 234.38 million XRP tokens.
Organizations often move assets to centralized exchanges if they plan to sell, and Ripple’s sales historically impact XRP’s price. This year, only five out of fourteen sales had a positive effect on XRP’s price, which has dropped over 30% so far, now trading around $0.44.
I would advise a cautious approach when investing in $XRP Always do your own research and consider the risks involved before making any investment decisions.
