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Ripple reserves 200 million XRP to dump in September
The post Ripple reserves 200 million XRP to dump in September appeared on BitcoinEthereumNews.com. Ripple has reserved 200 million XRP into its treasury account, which the company will likely sell throughout September. This is part of the 1 billion XRP unlocked this month, as Finbold previously warned about – with potential price impact. Every month, Ripple unlocks tokens from escrows, re-locks part of them into future escrows, and reserves the difference to sell. As XRP’s largest holder and sole beneficiary of its initial distribution, Ripple’s activities are highly important to the token’s economics. On September 1, Ripple moved 200 million XRP from the ‘Ripple (24)‘ account to ‘Ripple (1)‘. The former finished a 500 million XRP escrow on the same day, while the latter is the company’s treasury account. At current prices, this month’s reserve equals approximatelly $113.6 million. Ripple (1) account transactions. Source: XRPScan / Finbold What happened to Ripple’s 1 billion XRP unlocked in September? According to data Finbold gathered from XRPScan, here is what happened with the 1 billion XRP unlocked on September 1. Besides the 500 million XRP unlock from ‘Ripple (24)’, the ‘Ripple (25)‘ labeled account finished two escrows of 300 million and 200 million tokens each. Both divided the amounts into two following transactions. First, ‘Ripple (24)’ reserved September’s selling material into the company’s treasury and sent the remaining 300 million to ‘Ripple (12)‘. Meanwhile, ‘Ripple (25)’ also sent 100 million XRP to the same account – totaling 400 million tokens locked in an escrow set to finish by December 2027. Moreover, the second account sent 400 million tokens to ‘Ripple (13)‘, which was also locked for the same date. Ripple (XRP) monthly escrow activity – September 2024. Source: Finbold XRP price analysis amid Ripple dumps Right now, XRP trades at $0.568, down 7.43% year-to-date but up 2.43% in the last 24 hours. In 2024 alone, Ripple has…
The post Ripple reserves 200 million XRP to dump in September appeared on BitcoinEthereumNews.com.
Ripple has reserved 200 million XRP into its treasury account, which the company will likely sell throughout September. This is part of the 1 billion XRP unlocked this month, as Finbold previously warned about – with potential price impact. Every month, Ripple unlocks tokens from escrows, re-locks part of them into future escrows, and reserves the difference to sell. As XRP’s largest holder and sole beneficiary of its initial distribution, Ripple’s activities are highly important to the token’s economics. On September 1, Ripple moved 200 million XRP from the ‘Ripple (24)‘ account to ‘Ripple (1)‘. The former finished a 500 million XRP escrow on the same day, while the latter is the company’s treasury account. At current prices, this month’s reserve equals approximatelly $113.6 million. Ripple (1) account transactions. Source: XRPScan / Finbold What happened to Ripple’s 1 billion XRP unlocked in September? According to data Finbold gathered from XRPScan, here is what happened with the 1 billion XRP unlocked on September 1. Besides the 500 million XRP unlock from ‘Ripple (24)’, the ‘Ripple (25)‘ labeled account finished two escrows of 300 million and 200 million tokens each. Both divided the amounts into two following transactions. First, ‘Ripple (24)’ reserved September’s selling material into the company’s treasury and sent the remaining 300 million to ‘Ripple (12)‘. Meanwhile, ‘Ripple (25)’ also sent 100 million XRP to the same account – totaling 400 million tokens locked in an escrow set to finish by December 2027. Moreover, the second account sent 400 million tokens to ‘Ripple (13)‘, which was also locked for the same date. Ripple (XRP) monthly escrow activity – September 2024. Source: Finbold XRP price analysis amid Ripple dumps Right now, XRP trades at $0.568, down 7.43% year-to-date but up 2.43% in the last 24 hours. In 2024 alone, Ripple has…
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