Why Whales are Dumping 100 Million XRP Before Ripple’s Billion-Coin Circulation Event

It showed the original cryptocurrency of Ripple. XRP marks a major break from the current market sentiment for the largest digital asset. XRP price has jumped by 9% in the last 30 days. While (BTC) decreased by 5%. XRP price is expected to behave uniquely with the monthly escrow account opening of .

XRP in the face of selling pressure in the future? XRP is on an upward trend as Ripple Labs has achieved . Defendants in the lawsuit filed by the U.S. Securities and Exchange Commission (SEC). Several major gains. These positive updates have helped the price of XRP to rise by almost 50% year-over-year (YTD). However, the original cryptocurrency of .

The token may face selling pressure as Ripple has unlocked its collateral to add an additional 1 billion XRP (approximately $515 million) into circulation. However, it is a monthly routine that the blockchain company does. But adding a billion to the trading supply will eventually increase the selling pressure. Its circulating supply is now 51.98 billion.

According to data provided by WhaleAlert. Crypto whales have moved more than 126 million XRP (about $64 million) in multiple transactions over the past 24 hours. The largest transaction on tracked history was the transfer of 76 million XRP (approximately $38.8 million) to the Binance trading platform.

Sell ​​Alert: Cryptocurrencies Will Open in June The whales have cumulatively moved nearly 100 million XRP (about $50 million) to cryptocurrency exchanges for offloading amid escrow transactions. at the same time . A whale address collected 27 million XRP (about $14 million) in a single transaction ahead of the expected escrow routine.

XRP price has fallen by around 1% over the past 24 hours. It is trading at an average price of $0.50. at the time of writing. Its turnover decreased by 44% to $1.2 billion.

Crypto Horizon

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