[ad_1]
Ripple’s recent surge in XRP sales has sparked an interesting debate and has the cryptocurrency community abuzz with curiosity. New API data reveals that Ripple has significantly stepped up its public marketing of XRP this month, raising questions about the company’s strategic intentions.
Is Ripple preparing for a big move? Are they saving up for something big? Find out more and prepare for potential market ripples (just kidding) in 2024.
Rapid increase in sales volume
Huber, a prominent figure in the XRP community, has drawn attention to Ripple’s significant increase in XRP sales. Specifically, the company sold 167,758,585 XRP in the past 25 days, and the average price was $0.62. This amounts to an eye-catching total of $104,010,323, which is double his sales revenue over the past six months.
Also read: XRP soars in liquidity rankings as BNB, Solana and Cardano fall
December data: View details
You can get more information by looking at the December API record. On December 24th, Ripple’s XRP balance decreased by 60,159,086 XRP tokens, equivalent to over $37 million in transaction value that month. According to data from early December, Ripple sold 59,443,728 XRP on December 17th and 48,155,771 XRP the following week, each valued at approximately $30 million.
Ripple’s share buyback strategy
It is important to note that Ripple has a consistent practice of buying back a portion of the XRP it sells, usually in the first week of each month. For example, Ripple sold 235,857,273 XRP in November and then bought back 131,092,729 XRP in December. The company’s November sales amounted to 104,764,544 XRP, or approximately $63.9 million.
Given that Ripple’s XRP sales in December were more than double the average for the previous six months, the company is preparing for a significant share buyback to balance out the increased sales. Mr. Hoover speculates that this may be the case. This has led to an ongoing discussion in the community, raising many questions about Ripple’s funding delay and its potential impact on the broader XRP market.
Also Read: Ripple Price: XRP Price Expected to Rise 8-10x Soon
Looking to the future: Ripple’s XRP Reserve
As the end of December approaches, Ripple’s XRP disposable wallet currently has a balance of 5.16 billion XRP, with 40.7 billion tokens remaining in escrow. The buyback date is set for January 7, 2024, and the crypto community awaits further updates that will shed light on Ripple’s strategic decisions regarding its XRP reserves.
[ad_2]
Source link
