Did the Timing of Ripple's 500M Token Unlocking Trigger the Dip in XRP Price?

Quick Summary:

This strategic decision, part of Ripple’s monthly routine, has had a noticeable impact on the price of XRP amid the ongoing ups and downs of the market.

This aligns with Ripple’s broader objective of solidifying XRP’s role in facilitating international trade seamlessly.

While releasing 1 billion XRP from escrow periodically is essential for meeting business needs, it often leads to temporary drops in XRP’s value due to the sudden increase in supply.

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Article Details

Author / Journalist: Elena R

Category: Crypto

Markets: United States

Topics: News Ripple (XRP)

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-04-12 @ 11:17:32 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: coinpedia.org

Language: English

Article Length: 391 words

Reading Time: 3 minutes read

Sentences: 32 lines

Sentence Length: 13 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coinpedia

News ID: 20673251

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About Coinpedia

Main Topics: Crypto

Official Website: coinpedia.org

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Year Established: 2016

Headquarters: United States

News Last Updated: 17 hours ago

Coverage Areas: United States

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