🚀 Crypto News 🌐 #Xrp🔥🔥

XRP could drop to $0.43 in the coming days following Ripple's token unlocking worth $559 million.

Ripple released 1 billion XRP tokens worth $559.9 million, continuing its unlocking process since 2017.

In the month of August, XRP experienced extreme volatility, with the altcoin falling to a local low of $0.43. However, XRP soon recovered to reach a local high of $0.64. Unfortunately, this was not to last, as the cryptocurrency lost its gains once again.

According to a popular whale transaction tracker on X, Ripple achieved three consecutive unlocks totaling 1 billion XRP tokens. According to market cap, these tokens were worth $559.9 million on price charts.

The latest unlock was done in a batch of three different transactions, with one worth 500k XRP and the other two worth 300k and 200k.

Since January 2024, Ripple has released over 2.02 billion XRP tokens from its treasury worth $1.15 billion.

The price of XRP also fell during the August unlocks, with the altcoin falling to $0.56 from $0.65.

For starters, the altcoin’s Chaikin Money Flow (CMF) had a reading of -0.02.

This seemed to suggest that XRP might be experiencing some selling pressure – a bearish market sentiment, as holders might be closing out their positions.

Based on past performances and in light of the prevailing bearish sentiment in the market, the altcoin is at risk of falling to the local support level of $0.43. $XRP