Sell-off alert: Ripple reserves 200 million XRP to dump in September
Ripple has reserved 200 million XRP into its treasury account, which the company will likely sell throughout September. This is part of the 1 billion XRP unlocked this month, as Finbold previously warned about – with potential price impact. Every month, Ripple unlocks tokens from escrows, re-locks part of them into future escrows, and reserves the difference to sell. As XRP’s largest holder and sole beneficiary of its initial distribution, Ripple’s activities are highly important to the token’s economics. On September 1, Ripple moved 200 million XRP from the ‘Ripple (24)‘ account to ‘Ripple (1)‘. The former finished a 500 million XRP escrow on the same day, while the latter is the company’s treasury account. Picks for you Bitcoin bears ‘about to get murdered,’ says crypto analyst ...