{"id":2487,"date":"2024-06-08T16:00:05","date_gmt":"2024-06-08T16:00:05","guid":{"rendered":"https:\/\/cryptd.in\/ripples-150-million-xrp-sale-keeps-price-surpressed-amid-bearish-headwinds\/"},"modified":"2024-06-08T16:00:05","modified_gmt":"2024-06-08T16:00:05","slug":"ripples-150-million-xrp-sale-keeps-price-surpressed-amid-bearish-headwinds","status":"publish","type":"post","link":"https:\/\/cryptd.in\/el\/ripples-150-million-xrp-sale-keeps-price-surpressed-amid-bearish-headwinds\/","title":{"rendered":"Ripple\u2019s 150 Million XRP Sale Keeps Price Surpressed Amid Bearish Headwinds"},"content":{"rendered":"

Ripple has again raised concerns in the XRP community<\/a> following its recent XRP sale. This comes amid XRP\u2019s unimpressive price action<\/a>, which continues to paint a bearish outlook for the crypto token.\u00a0<\/p>\n

Ripple Sells 150 Million Tokens<\/h2>\n

On-chain data shows<\/a> that the crypto firm offloaded 150 million XRP tokens ($78 million) on June 7. These tokens formed part of the 1 billion XRP tokens, which were recently unlocked as part of its monthly escrow unlock<\/a>, which is set to continue until 2027. As expected, this sale has raised concerns, considering the impact many believe it could have on the market.\u00a0<\/p>\n

Moreover, this sale follows Ripple\u2019s recent unusual transactions, when the crypto firm moved 3 billion XRP tokens ($1.5 billion) across different wallets in the space of 30 minutes. However, crypto analyst Michael Nardolillo explained<\/a> that those transactions were mainly internal movements and escrow re-lockups.\u00a0\u00a0<\/p>\n

This recent sale of $150 million XRP tokens will again raise the theory of price suppression by Ripple<\/a>. While it has been revealed that the crypto firm\u2019s XRP sales have no impact on prices on crypto exchanges, it undoubtedly adds to the bearish sentiment that crypto investors already have towards the token.\u00a0<\/p>\n

Furthermore, Ripple\u2019s XRP sales lead to a positive supply shock, with more XRP tokens being injected into circulation. Such development tends to have a negative impact on a crypto\u2019s price and could lead to significant price declines.\u00a0<\/p>\n

It is also worth mentioning that this sale comes at a time when the market sentiment towards XRP is as bearish<\/a> as it can be. This is partly thanks to the fact that the crypto token remains one of the worst-performing crypto assets<\/a> since the year began, with a year-to-date (YTD) loss of over 18%.\u00a0<\/p>\n

XRP Will Still Be Great<\/h2>\n

Despite XRP\u2019s unimpressive price action<\/a>, crypto analysts have continued to predict the crypto token will still have its moment when it will experience that price breakout and make a parabolic move to the upside. Crypto analyst Javon Marks<\/a> recently mentioned that the XRP is about to make a name if it hadn\u2019t already done so.\u00a0<\/p>\n

He made this statement while revealing that a Hidden Bullish Divergence setup had formed on the altcoin\u2019s chart. He claimed that XRP\u2019s price went up by over 63,000% in less than a year<\/a> the last time this happened. He suggested that such a move could be on the horizon again with XRP at its breaking point. Meanwhile, Crypto analyst CryptoBull also recently predicted<\/a> that the cryptocurrency could enjoy a 28,900% rally and rise to $154.\u00a0<\/p>\n

At the time of writing, XRP is trading at around $0.49, down over 4% in the last 24 hours, according to data<\/a> from CoinMarketCap.\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

Ripple has again raised concerns in the XRP community following its recent XRP sale. This comes amid XRP\u2019s unimpressive price action, which continues to paint a bearish outlook for the crypto token.\u00a0 Ripple Sells 150 Million Tokens On-chain data shows that the crypto firm offloaded 150 million XRP tokens ($78 million) on June 7. These […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2487","post","type-post","status-publish","format-standard","hentry","category-feeds"],"yoast_head":"\nRipple\u2019s 150 Million XRP Sale Keeps Price Surpressed Amid Bearish Headwinds - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/el\/ripples-150-million-xrp-sale-keeps-price-surpressed-amid-bearish-headwinds\/\" \/>\n<meta property=\"og:locale\" content=\"el_GR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ripple\u2019s 150 Million XRP Sale Keeps Price Surpressed Amid Bearish Headwinds - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"Ripple has again raised concerns in the XRP community following its recent XRP sale. 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