Ripple is set to release 1 billion XRP on July 1st, with a market value of 470 million USD. This monthly unlocking process, in place since 2017, could impact the crypto market by potentially lowering the price of XRP.
Each month, Ripple utilizes two crypto wallets, “Ripple (24)” and “Ripple (25)”, to manage the unlocking of 500 million XRP each, divided into various contracts. These unlockings are scheduled to continue until January 2025. In June, after the regular unlocking, Ripple sold 200 million XRP. The company then placed the remaining amount in futures contracts for September 2027, resulting in the largest monthly sale in Ripple’s history.
The sales of Ripple often directly influence the price of XRP. In 2024, out of the 14 sale days, only five showed an increase in the price of XRP, while the remaining days saw declines. Additionally, XRP experienced a downward trend in four of the first six months of 2024. Following the unlocking of 1 billion XRP on June 1st, the price of XRP has dropped by 9.25%, currently trading at $0.467.
It is crucial for investors and traders to monitor these unlockings as they can provide insights into short-term price movements. However, it is important to note that past performance does not guarantee future results and investing in crypto carries risks.
Ripple’s monthly unlocking of 1 billion XRP is a significant event for market participants. Staying informed and vigilant is essential as these actions can have a substantial impact on the price of XRP and the dynamics of the crypto market.
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DISCLAIMER: The opinions expressed in this article are solely those of the author and should not be construed as investment advice. “The Benefits of Regular Exercise”
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