According to recent on-chain data: ripple Monthly escrow unlocking was conducted in May. As expected, concerns have been raised, particularly about how Ripple could affect the price of XRP. Token Price Manipulation.
Ripple Unlocks 500 Million XRP Tokens
On-chain data exposed On May 1, 500 million XRP tokens were unlocked from Ripple’s escrow. Cryptocurrency companies are known to have unlocked it. 1 billion tokens per month, it seems only half of it is unlocked this time. The size of these tokens always raises concerns when considering the negative impact they may have on the market. Altcoin price If it is abandoned in the market.
Further analysis of on-chain data showed that ripple Of the unlocked tokens, 300 million XRP were placed in an escrow account (2Not4co2op). Meanwhile, the cryptocurrency company sent the remaining 200 million XRP tokens to other wallets.4vt5x1o91m). Considering that 200 million XRP tokens have not been transferred to escrow, Ripple may have plans to sell them at some point, although it has not yet done so.
Ripple is also worth mentioning. received Another 500 million XRP tokens in an unknown wallet (ymFZmKxEsF). However, these funds are immediately transmitted To an escrow account. like this, Community You can breathe a sigh of relief because most of the XRP tokens Ripple received in the last 24 hours have been transferred back to escrow.
A story about Ripple dumping in the market resurgence
After the latest token unlock, the cryptocurrency community rekindled We talk about the alleged dumping of Ripple. XRP Holders. The question of whether Ripple’s XRP sale will impact the price of the token has been discussed for a long time, with notable figures such as XRP cryptocurrency YouTuber Jerry Hall. blame to A ripple effect that intentionally suppresses prices through altcoin sales.
On the other hand, people like Ripple’s Chief Technology Officer (CTO) clarify XRP sales by cryptocurrency companies do not affect the price of the cryptocurrency token. Moreover, Ripple has already Extinction Programmatic selling is work It cannot affect prices on cryptocurrency exchanges.
Ripple also Recent Court Filings In the ongoing legal battle with the Securities and Exchange Commission (SEC), the company announced that it has taken steps to ensure that institutional sales do not violate securities laws. This means that Ripple conducts over-the-counter sales (OTC) to avoid further scrutiny from the Commission.
At the time of writing, the token is trading around $0.50, up more than 2% in the last 24 hours. data From CoinMarketCap.
Price rises above $0.51 | Source: XRPUSDT on Tradingview.com
Featured image from The Motley Fool, Chart from Tradingview.com
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