PANews reported on June 7 that according to Finbold, Ripple sold 150 million XRP from its reserves this month, causing pressure on the price of XRP. The transaction was worth about $78 million, equivalent to 0.25% of XRP's market value of $29.25 billion ($0.52 per token).
On June 1, Ripple released 1 billion XRP from its initial allocation, which was held in escrow on a monthly basis until 2027. The company then transferred 200 million XRP to its treasury account and locked the remaining 800 million in a new escrow contract. At the same time, the account "Ripple (35)" transferred an additional 200 million XRP to the sale reserve account, bringing the total to 400 million XRP held in the sale reserve. These sales were typically sent from the "Ripple (1)" treasury account to the untagged account "rP4X2hTa", causing supply pressure in the market. These newly circulated tokens typically passed through intermediary addresses such as "rhWt2bhR" and ultimately ended up on cryptocurrency exchanges, similar to what had happened in previous months.
