Alex Harrison
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$XRP
🔥Ripple prepares for what could be a $795 million XRP sale in March
Ripple, the company behind the XRPL development and XRP’s largest token holder, is preparing its treasury for March sales. Onchain data reveals Ripple has reserved 300 million XRP from the 1 billion unlocked on March 1, as Finbold reported. At these prices, the amount is worth $795 million.
Finbold retrieved the reserve’s transaction history from XRP Scan, which shows the labeled ‘Ripple (1)’ account receiving the tokens. This is a known pattern that repeats monthly, when Ripple unlocks 1 billion XRP from the genesis distribution, reserves a fraction for its budget’s sales, and re-locks the rest for future unlocks.
Last month, the company unlocked the same 1 billion, reserved 300 million XRP, and later sold the tokens. Now, the market wonders if the same thing will happen in March, with the $795 million-worth of reserved XRP.
XRP price analysis and the $795 million selling pressure
As of this writing, XRP is trading at $2.65 per token. Up 16% in the last 24 hours, following Donald Trump’s announcement to add it to the US treasury reserve.
Nevertheless, XRP is still down 11.52% in the last 30 days, since Ripple prepared February’s dump, as previously reported. This helps to illustrate the potential impacts of such significant supply pressure from the company’s sales, even with bug demand.
Now, traders and investors will need to watch the following developments and activity, as they position themselves around the news.
While the company did not disclose each sale separately, Ripple has already disclosed its selling model on many occasions. According to sources, its XRP sales go through an On-Demand Liquidity (ODL) model, selling at market price to willing customers.
Yet, even this model requires an upcoming demand and dilutes exchanges’ order books by absorbing most of this XRP buying pressure.
#WhiteHouseCryptoSummit #MtGoxTransfers #TrumpCongressSpeech #MarketRebound
🔥Ripple prepares for what could be a $795 million XRP sale in March
Ripple, the company behind the XRPL development and XRP’s largest token holder, is preparing its treasury for March sales. Onchain data reveals Ripple has reserved 300 million XRP from the 1 billion unlocked on March 1, as Finbold reported. At these prices, the amount is worth $795 million.
Finbold retrieved the reserve’s transaction history from XRP Scan, which shows the labeled ‘Ripple (1)’ account receiving the tokens. This is a known pattern that repeats monthly, when Ripple unlocks 1 billion XRP from the genesis distribution, reserves a fraction for its budget’s sales, and re-locks the rest for future unlocks.
Last month, the company unlocked the same 1 billion, reserved 300 million XRP, and later sold the tokens. Now, the market wonders if the same thing will happen in March, with the $795 million-worth of reserved XRP.
XRP price analysis and the $795 million selling pressure
As of this writing, XRP is trading at $2.65 per token. Up 16% in the last 24 hours, following Donald Trump’s announcement to add it to the US treasury reserve.
Nevertheless, XRP is still down 11.52% in the last 30 days, since Ripple prepared February’s dump, as previously reported. This helps to illustrate the potential impacts of such significant supply pressure from the company’s sales, even with bug demand.
Now, traders and investors will need to watch the following developments and activity, as they position themselves around the news.
While the company did not disclose each sale separately, Ripple has already disclosed its selling model on many occasions. According to sources, its XRP sales go through an On-Demand Liquidity (ODL) model, selling at market price to willing customers.
Yet, even this model requires an upcoming demand and dilutes exchanges’ order books by absorbing most of this XRP buying pressure.
#WhiteHouseCryptoSummit #MtGoxTransfers #TrumpCongressSpeech #MarketRebound
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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