Ripple Labs 150 million #XPR causing the price of this coin to "plunge".
Ripple Labs recently made headlines when it launched a sale of 150 million XRP tokens (worth $78 million) on June 7. These coins represent 0.25% of XRP's total market capitalization of $29.25 billion.
The move comes just days after the company transferred 3 billion XRP tokens, worth nearly $1.5 billion, in a series of transactions from its escrow wallet.
This massive sale of XRP has raised concerns about the potential impact on the coin's value. History shows that Ripple's escrow-related activities can affect XRP price. These concerns became even more evident when rumors emerged that Ripple may be preparing for the largest monthly sale of XRP since 2017.
