Ripple has unlocked 1 billion XRP tokens from its escrow account as part of its typical monthly release, which has resulted in a 2% decline in the token's price. Specifically, from the unlocked amount, only 330 million XRP entered the market, while 670 million were returned to escrow to help stabilize prices. The total market value of XRP is now approximately $128 billion, with recent trading volume showing a notable 18% decrease to around $2 billion following the June release. This monthly strategy has been in place since 2017 and is intended to balance operational costs without overwhelming the market with too many tokens at once. The most recent price adjustment saw XRP fall to about $2.19. As analyst comments suggest, "This ongoing release method aims to prevent market flooding and helps Ripple manage its capital efficiently." Investors should take note of the recent market trends before making decisions. While immediate selling may seem prudent, awareness of long-term impacts remains crucial, especially in a fluctuating market like cryptocurrency.
Ripple's Monthly Token Release Causes 2% Dip in XRP Price
Ripple's latest release of 1 billion XRP tokens has led to a 2% drop in the cryptocurrency's value, raising questions about market dynamics.
Jamie Bennett
Crypto Analyst
5 min read
9,138
Analysis
Market Sentiment
Bearish
Neutral
Bullish
News Impact
8/10
Credibility: 8/10
Trading Recommendation
XRP
XRP
SELL
Entry Price
$2.19
Confidence
50%
Stop Loss
$2.15
Take Profit
$2.25 - $2.3
Considering the recent news of XRP token release and consequent price drop, it's advised to monitor closely rather than initiate a buy.
