According to onchain data reported by Whale Alert, 400 million XRP ($2.67) worth approximately $1.13 billion were unlocked today.
This cyclical event continues to make waves in the cryptocurrency market every time. However, the truth is that not all of these unlocked XRPs enter the market. When historical data is examined, it is seen that Ripple uses only a part of it, generally 20% or 25%, for market sales. The remaining coins are sent back to the escrow cryptocurrency wallet and locked, and their unlocking is postponed until the next month.
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However, Ripple management is not without criticism. ZachXBT, one of the most well-known onchain detectives in the cryptocurrency world, recently pointed to the XRP sales made by Ripple executives in response to criticism of PumpFun’s SOL ($203.58) sales.
According to the data, approximately $109 million worth of XRP was sent from Ripple co-founder Chris Larsen’s cryptocurrency wallets to centralized crypto exchanges in January.
*This is not investment advice.
Continue Reading: 400 Million XRP Worth $1.13 Billion Unlocked: But There’s One Thing to Know
