Ripple sells XRP after cryptocurrency market crash
Date: 2024-04-15 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
Following news of the escalation of the Iran-Israeli conflict and the general collapse of the cryptocurrency market, Ripple decided to sell 100 million XRP tokens.
New twist in history: Ripple sends tokens to the treasury account
In April, the company unlocked 1 billion XRP and then sent 200 million tokens to its “Ripple (1)” treasury account.
This month's sale took longer than usual and was unusual in several ways.
Historically, data shows that every time Ripple has had a sell-off, the price of XRP has fallen, causing concern among investors.
Speculation regarding geopolitical events, such as the conflict between Iran and Israel, is putting additional pressure on cryptocurrencies, including XRP.
Ripple still has 100 million XRP in stock that could be sold in April, causing further fluctuations in the market.
