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💥 Ripple will empty its unlocked XRP reserves when 2023 ends
Ripple is the largest XRP holder, with most of its assets locked up in escrow until 2027. Every month, 1 billion tokens are unlocked and managed by the company, arbitrarily re-locked or the requested share is held.
December May, Ripple kept 200 million XRP (20%) and re-locked the rest in deposits set for April and May 2027. The crypto wallet account holding the current reserves was labeled as 'Ripple(1)' by the XRP Scan.
Usually the company sends what they want to keep to this account every month and then pays to an unlabeled address. This amount is then redirected to a number of other unlabeled addresses, probably controlled by the same owner, until the XRP tokens reach the central exchanges.
In most months, Ripple will spend the entire unlocked amount. In others, the company will sell only part of it, and keep the rest in reserves.
However, Ripple has already spent 240 million of the 200 million XRP unlocked in December. This means that the company is using some of the reserves accumulated in 2023 to unload them before the end of the year.
In particular, the sales took place in three batches after receiving 200 million XRP from Ripple (22) on December 1. First, 60 million was spent on December 6, then another 60 million was spent six days later.
Most recently, Ripple consolidated its overspending with 120 million XRP transactions to the same target on December 20.
However, it is only up to Ripple to sell all its unlocked reserves or store them in the new year. All December sales so far are worth $148.80 million and have been covered directly by the company and its shareholders.
Since unlocked tokens are put into circulation every month, these sales account for the supply inflation of XRP. Mainly, Ripple can directly influence the economic dynamics of its token and its future price and value, as previously reported.
#xrp #Binance #crypto2023
Ripple is the largest XRP holder, with most of its assets locked up in escrow until 2027. Every month, 1 billion tokens are unlocked and managed by the company, arbitrarily re-locked or the requested share is held.
December May, Ripple kept 200 million XRP (20%) and re-locked the rest in deposits set for April and May 2027. The crypto wallet account holding the current reserves was labeled as 'Ripple(1)' by the XRP Scan.
Usually the company sends what they want to keep to this account every month and then pays to an unlabeled address. This amount is then redirected to a number of other unlabeled addresses, probably controlled by the same owner, until the XRP tokens reach the central exchanges.
In most months, Ripple will spend the entire unlocked amount. In others, the company will sell only part of it, and keep the rest in reserves.
However, Ripple has already spent 240 million of the 200 million XRP unlocked in December. This means that the company is using some of the reserves accumulated in 2023 to unload them before the end of the year.
In particular, the sales took place in three batches after receiving 200 million XRP from Ripple (22) on December 1. First, 60 million was spent on December 6, then another 60 million was spent six days later.
Most recently, Ripple consolidated its overspending with 120 million XRP transactions to the same target on December 20.
However, it is only up to Ripple to sell all its unlocked reserves or store them in the new year. All December sales so far are worth $148.80 million and have been covered directly by the company and its shareholders.
Since unlocked tokens are put into circulation every month, these sales account for the supply inflation of XRP. Mainly, Ripple can directly influence the economic dynamics of its token and its future price and value, as previously reported.
#xrp #Binance #crypto2023
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