As geopolitical tensions between Iran and Israel intensify, Ripple prepares to sell 100 million XRP tokens this Sunday. This movement occurs at a time of notable decline in the cryptocurrency market, highlighting the company’s strategy in dealing with external adversities and maintaining its operational liquidity.
Ripple, which holds the title of largest holder of the XRP token, carries out recurring monthly sales, which directly influences the market. These actions are part of an asset management routine, where, in April, the company had already released 1 billion XRP, according to a procedure that is repeated on the first day of each month.
The 200 million tokens initially moved into the Treasury account known as ‘Ripple(1)’ on XRPScan were just one part of the company’s planning. In contrast to previous months, the April sale presented delays and particularities. Normally, sales take place in the first seven business days of the month, but this time, the process was prolonged.
On Sunday, April 14, Ripple mobilized half of its reserves from the ‘Ripple (1)’ account, totaling approximately 50 million dollars. At the time of this report, the 100 million XRP tokens remained inactive in the ‘rP4X2…sKxv3’ account. Traditionally, these tokens are sold to an unidentified account, which in turn transfers the funds to known cryptocurrency exchange addresses.
Ripple’s movements are closely watched by the cryptocurrency community, especially in times of instability in the global market. The active management of its XRP reserves reflects an attempt to balance its operations in the face of geopolitical and economic changes.
At the time of publication, the price of XRP was quoted at $0.4945 with a drop of 8% in the last 24 hours.
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Source: https://portalcripto.com.br/ripple-anuncia-venda-de-100-milhoes-de-xrp-em-resposta-as-tensoes-geopoliticas/
