14h00 ▪
3
min reading ▪ by
Eddy S.
Ripple is set to release 1 billion XRP on July 1, representing a market value of $470,000 million. This monthly unlock process, in place since 2017, could influence the crypto market by exerting downward pressure on the price of XRP.
Ripple will unlock 1 billion XRP again on July 1st!
Each month, Ripple uses two crypto wallets: “Ripple (24)” and “Ripple (25)”, to manage the release of 500 million XRP each, divided into several contracts. These unlocks are scheduled until January 2025. In June, after the usual unlock, Ripple sold 200 million XRP. The company deposited the rest into futures contracts for September 2027, adding 200 million XRP to the sale! Which marks the largest monthly sale in Ripple’s history.
Ripple sales often have a direct impact on the price of XRP. In 2024, out of the 14 days of sales, only five saw an increase in the price of XRP, while the rest were marked by declines. Additionally, XRP has been in a downtrend for four of the first six months of 2024. Since the release of 1 billion XRP on June 1, the price of XRP has dropped by 9.25%, currently trading at $0.467.
Will the crypto price follow the same pattern in July?
It is essential for investors and traders to monitor these releases. Because, 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 investing in crypto carries risks.
Finally, Ripple’s monthly release of 1 billion XRP is a key event for market participants. It is crucial to remain vigilant and informed, as these actions can significantly influence the price of XRP and the dynamics of the crypto market.
Maximize your Cointribune experience with our ‘Read to Earn’ program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
Click here to join ‘Read to Earn’ and turn your passion for crypto into rewards!
Eddy S.
The world is evolving and adaptation is the best weapon to survive in this undulating universe. Basically a crypto community manager, I am interested in everything directly or indirectly related to blockchain and its derivatives. In order to share my experience and raise awareness of a field that fascinates me, there is nothing better than writing articles that are informative and relaxed at the same time.
DISCLAIMER
The comments and opinions expressed in this article are those of the author alone, and should not be considered investment advice. Do your own research before making any investment decisions.
