Crypto News Alert: Ripple Exerts $150 Million Selling Pressure on XRP Investors
In a recent development reported by Finbold, Ripple has sold 150 million XRP from its reserves on June 7th, causing a ripple effect on the XRP price.
The sale, valued at approximately $78 million, represents 0.25% of XRP’s market value of $29.25 billion. Ripple’s historical practice of unlocking 1 billion tokens through monthly escrows continued on June 1st, with the unlocking of 1 billion XRP from the first distribution locked in escrow until 2027.
Following this, Ripple transferred 200 million XRP to the treasury account and locked the remaining 800 million in a new escrow. The sale was conducted in the usual manner, with XRP being sent from the treasury account labeled ‘Ripple (1)’ to the unlabeled ‘rP4X2hTa’ account.
Analysts have noted that XRP has often experienced a local crash when Ripple sells, advising investors to monitor XRP closely in June as the expected rise may slow down. Currently, XRP has decreased by 0.13% in the last 24 hours, trading at $0.525.
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