Ripple Will Unlock 1 Billion XRP in July! The Crypto is at Risk of Collapsing!
Ripple is about to release 1 billion XRP on July 1st, which represents a market value of 470 million USD. This monthly unlocking process, in place since 2017, could influence the crypto market by exerting downward pressure on the price of XRP.
Ripple will unlock another 1 billion XRP on July 1st!
Each month, Ripple uses two crypto wallets: “Ripple (24)” and “Ripple (25)”, to manage the unlocking of 500 million XRP each, divided into several contracts. These unlockings are scheduled until January 2025. In June, after the usual unlocking, Ripple sold 200 million XRP. The company placed the rest in futures contracts for September 2027, adding 200 million XRP to the sale! This thus marks the largest monthly sale in Ripple’s history.
Ripple’s sales often have a direct impact on the price of XRP. In 2024, out of the 14 sale days, only five saw an increase in the price of XRP, while the other days were marked by declines. Moreover, XRP experienced a downward trend during four of the first six months of 2024. Since the unlocking of 1 billion XRP on June 1st, the price of XRP has dropped by 9.25%, currently trading at $0.467.
Will the price of crypto follow the same pattern in July?
It is essential for investors and traders to monitor these unlockings. As they can serve as indicators for short-term price movements. However, it is important to remember that past performance is not indicative of future results and that investing in crypto involves risks.
Lastly, Ripple’s monthly unlocking of 1 billion XRP is a key event for market players. It is crucial to stay vigilant and informed, as these actions can significantly influence the price of XRP and the dynamics of the crypto market.
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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.