Ripple Dumped 240000000 XRP and this action has caused a big change in the cryptocurrency market, especially in the price of XRP.
Ripple Dumped 240000000 XRP, What’s The Impact?
Ripple sold a huge amount of XRP tokens, totaling 240 million, and this had a big effect on the price of XRP.
The timing of Ripple’s sales was important. The first sale was on March 5, when Ripple moved 100 million XRP tokens to another account.
At that time, the price of XRP was $0.6305, so the sale was worth $63 million. Then, on March 13, Ripple moved another 140 million XRP, valued at over $94.5 million, to a different account. Altogether, Ripple sold over $157 million in XRP in less than two weeks.
These sales had a big impact on the price of XRP. On the days when Ripple sold XRP, the price of XRP changed a lot.
For example, on March 15, the price of XRP dropped by over 17%, from $0.6685 to $0.5502. Similarly, on another day, XRP dropped from above $0.7 to $0.6727 after Ripple sold XRP.
Despite these drops, XRP has recovered somewhat and is now trading at around $0.6133.
Many people in the XRP community are worried about Ripple’s actions. They think that Ripple’s monthly sales of XRP are causing the price of XRP to stay low.
This shows how important it is to understand the actions of big companies like Ripple and how they can affect the prices of cryptocurrencies like XRP.
See Also: SEC And Ripple Case: SEC targets Ripple for $2.6B fine
Community Reaction To The News That Ripple Dumped 240000000 XRP
Ripple Dumped 240000000 XRP and has caused a lot of reactions in the XRP community. The news that Ripple Dumped 2400000000 XRP is now being talked about a lot, with community members expressing different views on what this means.
Many people who own XRP are worried about how Ripple’s large sales of XRP might affect the price of XRP. Some think that Ripple selling so much XRP is making the price of XRP go down, making it hard for XRP to go up in value. This worry is shared by people who watch the price of XRP closely and understand how the market works.
But some members of the XRP community understand why Ripple is selling XRP. They say that Ripple needs to sell XRP to run its business and make its products better. They think that these sales could help Ripple improve its services, which could be good for XRP in the long run.
One thing that many people in the XRP community agree on is that Ripple should be more open about its XRP sales. They want Ripple to tell them more about when and why they are selling XRP. They think that this would help everyone understand what Ripple is doing and why.
Overall, the XRP community has different opinions about Ripple’s sales of XRP. Some are worried about the price of XRP, while others think that Ripple needs to do what’s best for its business.
See Also: Ripples 112M Dollars Exploit Causes XRP To Tumble
Conclusion
In conclusion, Ripple’s recent sale of 240 million XRP tokens has caused significant reactions in the XRP community.
The community is divided, with some worried about the impact of the news that Ripple Dumped 240000000 XRP on XRP’s price and others understanding the need for Ripple to manage its holdings.
Transparency and clear communication from Ripple regarding its XRP sales are key concerns for many community members.
Overall, the situation highlights the complex dynamics between major players like Ripple and the broader cryptocurrency market, emphasizing the importance of clear communication and transparency in such transactions.
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