XRP surged 6% from $0.52 to $0.55 per token in the last 24 hours during the most recent bull rally in the cryptocurrency market.
This event created an excellent opportunity for Ripple to move another 70 million XRP ($38.5 million) in preparation for what could be another possible sell-off.
As for context, Ripple unlocked 1 billion XRP tokens on October 1, of which the company kept 200 million for this month’s payments. From the 200 million tokens, Ripple moved 135 million in two batches of 60 million on October 10, and 75 million on October 16.
Ripple monthly activity pattern according to past reports. Source: Finbold
A similar pattern also happened in September, amid a price crash. However, there are no guarantees that Ripple will follow the same path, nor that the current $38.5 million in XRP will be sold in the open market.
Nevertheless, traders and investors can use this information to monitor and support their decision-making. It is important to say that this value accounts for 1.65% of the XRP spot volume in the last 24 hours, at the time of publication.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk
