2024

David Vance

Impact

<p>The post <a href="https://coinpedia.org/news/ripples-escrow-strategy-and-its-impact-on-xrp-price/">Why is Ripple the Biggest XRP Seller? Insider Reveals the Truth</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Ripple stands as a significant player in the cryptocurrency market today.</p> 
<p>Lately, there’s been talk about Ripple selling off a lot of its XRP. Ripple’s Chief Technology Officer, David Schwartz, shed light on this, saying that because Ripple holds so much XRP, selling it is necessary instead of just keeping it forever.</p> 
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   <p lang="en" dir="ltr">Because Ripple has the most XRP and, in practice, the only realistic alternative to selling it is continuing to hold the most XRP indefinitely.</p>— David "JoelKatz" Schwartz (@JoelKatz) <a href="https://twitter.com/JoelKatz/status/1792194056564707832?ref_src=twsrc%5Etfw">May 19, 2024</a>
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<h2 class="wp-block-heading" id="h-xrp-holdings-breakdown"><strong>XRP Holdings Breakdown</strong></h2> 
<p><a href="https://coinpedia.org/news/ripple-2024-predictions-xrp-sales-stablecoins-ipos-and-more/">Ripple’s report</a> for the Q1 of 2024 gives us a detailed look at its XRP holdings. They’ve divided their stash into two parts: the XRP they can use right away and the XRP they’ve locked away in special accounts. These locked accounts release some XRP every month for the next 42 months. Ripple can’t touch this XRP until it’s time. Interestingly, most of the XRP they release each month goes right back into these locked accounts. It seems like Ripple has a careful plan for how they’re handling this.</p> 
<p>As of March 31, 2024, Ripple had 4.8 billion XRP in their immediate stash, plus an additional 40.1 billion XRP locked away.</p> 
<h2 class="wp-block-heading" id="h-xrp-price-outlook"><strong>XRP Price Outlook</strong></h2> 
<p>Currently, the 7th largest crypto XRP is around $0.50 per token. XRP has traded within an upward corridor since May 2023, with the upper dynamic resistance at $0.80 per token. However, it’s currently near its support level after a 22% decline in mid-April. If XRP sees significant accumulation, it could rise above $0.53 and towards $0.57. However, if the current bearish trend continues, XRP’s value may drop below $0.50 to trade at $0.44.</p> 
<p>Moreover, XRP’s Market Value to Realized Value (MVRV) ratio, observed through 30-day and 365-day moving averages, shows negative values of -1.3% and -9.8%, respectively. This suggests that XRP is undervalued compared to its historical cost basis, indicating a buying opportunity for investors looking to ‘buy the dip’ and trade against current market movements.</p> 
<h2 class="wp-block-heading" id="h-xrp-ecosystem-is-evolving"><strong>XRP Ecosystem is Evolving!</strong></h2> 
<p>Meanwhile, recent XRP and Ripple ecosystem developments may impact short-term price movements. The XRP Ledger has seen a surge in activity, processing over 251 million transactions in Q1 2024, doubling from the previous quarter. Despite the increased transaction volume, fees have dropped by 45% to approximately $0.000856.</p> 
<p>Interestingly, the sentiment among XRP traders remains mostly fearful and neutral, according to the “Fear and Greed” indicator. However, despite this cautious sentiment, some optimistic traders forecast significant price movements, with predictions suggesting XRP could reach $3.</p> 
<p><strong>Is XRP Undervalued? Time to “buy the dip” or wait and see? Let us know your thoughts!</strong></p>

Why is Ripple the Biggest XRP Seller? Insider Reveals the Truth

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