Ripple sold the remaining $27 million worth of 50 million XRP tokens from this month’s sell-off reserves on May 20. This dump marks the end of May’s tokens unlock, and the company prepares for June’s 1 billion XRP release.
On May 1, Ripple released 1 billion of its tokens from the initial distribution, as it does monthly. The company then sent 200 million XRP to its treasury account and locked the remaining 800 million in new escrows.
Notably, Ripple sold 75% of these reserves on May 13 at prices nearly 10% lower than this most recent activity.
As usual, the two selling activities resulted from the treasury account, labeled Ripple (1), sending 200 million XRP total to the unlabeled account rP4X2…sKxv3.
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What happened to Ripple May’s dumps?
After receiving the 150 million XRP this month, Ripple’s destination account rP4X2…sKxv3 distributed some tokens to four unlabeled accounts. Interestingly, the same accounts were used in April, with similar amounts for each.
In particular, rhWt2…E32hk received 100 million out of the 105.752 million XRP payments and distributed it to one more account before reaching cryptocurrency exchange addresses. Finbold has observed this similar pattern being played month after month with Ripple’s dumps.
However, rP4X2…sKxv3 still holds a balance of 135.16 million XRP, of which over 94 million are from May unlocks.
XRP price analysis
It is noteworthy how Ripple sales directly impact XRP’s price, considering the supply pressure they create on the spot market. Historically, XRP suffered a local crash most of the time Ripple sold its tokens.
In 2024, only four of the 11 sell-off days had positive price action: February 5, 11, April 14, and May 13. All the other eight days were of local crashes, evidencing the importance of monitoring the company’s activities.
As of this writing, XRP was trading at $0.54 per token, up nearly 4% from Ripple’s most recent dump.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
