Ripple Releases 1 Billion XRP And Saves Crypto From A Fatal Drop!
The crypto market has recently been shaken by several major events. Among them, the release of 1 billion XRP by Ripple has drawn particular attention. This decision, highly strategic for Ripple, probably saved XRP from free-falling 4.26% in 24 hours.
Ripple releases 1 billion XRP
On October 1, 2024, Ripple released 1 billion XRP from its escrow account. This release is part of a larger monthly distribution plan of XRP, aimed at increasing the crypto’s liquidity and supporting the company’s operations.
Currently, the nominal value of these 1 billion XRP is estimated at around 640 million dollars. Ripple uses these funds to finance its projects, boost the adoption of XRP and maintain the stability of its crypto ecosystem.
Crypto: XRP up after a 4.26% drop in 24 hours!
This massive release of XRP coincided with a significant drop in Ripple’s price, which fell by 4.26% in just 24 hours. This decline is part of a general downturn in the crypto market, influenced by several key factors.
Notably, concerns about a rise in interest rates in Japan following Shigeru Ishiba’s victory; geopolitical tensions following the assassination of Hassan Nasrallah; and weak economic data showing slowed growth and recession fears.
However, the release of these 1 billion XRP by Ripple has fully played its role and stabilized the market. This strategy has strengthened crypto investors’ confidence and boosted the adoption of XRP, which is now up 1.78% in 24 hours, trading around $0.622.
In conclusion, Ripple’s release of 1 billion XRP, although significant for market liquidity, has managed to stabilize the crypto. The price of Ripple is now up 1.78% despite recent economic and geopolitical turbulence. Crypto investors are relieved and hope that this positive trend will continue.
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Le monde évolue et l'adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m'intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l'optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.