đ¨đ¨Ripple Sells 150 Million XRP Tokens: Impact on Price and Bullish Prospectsđđ
Ripple sold 150 million XRP tokens (around $78 million) on June 7th. This is part of 1 billion XRP unlocked monthly from the company's escrow fund, a process that will continue until 2027. This sale has raised concerns about the potential impact on XRP's price, especially in the context of XRP's price decline of over 18% since the beginning of the year.
Although Ripple has stated that selling XRP does not affect prices on exchanges, this sale will increase XRP's circulating supply, which could put downward pressure on the price. However, some analysts predict that XRP will experience a massive price surge in the future, with gains of up to 28,900% and a price of $154.
Analyst Javon Marks pointed out that the "Hidden Bullish Divergence" pattern has formed on the XRP chart, indicating significant upside potential. Previously, XRP had surged more than 63,000% in less than a year when this pattern last appeared.
Currently, XRP is trading around $0.49, down more than 4% in the past 24 hours. Despite the current downtrend, analysts remain optimistic about XRP's prospects for a strong bullish rally in the future.$XRP
