- Monthly release by Ripple affected XRP price.
- XRP dropped 2% post-token release.
- Market shows bearish trends for XRP.
Ripple released 1 billion XRP, valued at approximately $2.2 billion, from escrow on June 1. The price of XRP consequently fell by 2%, now trading around $2.19. This monthly release aligns with Ripple’s established escrow program aimed at managing supply predictability.
Ripple Labs, led by CEO Brad Garlinghouse and CTO David Schwartz, consistently executes these releases. XRP/USD showed bearish indicators following the release, with technical signals suggesting ongoing seller dominance. Whale Alert: Significant transfer of Ripple (XRP) observed
This release triggered bearish market sentiment that was reflected in technical indicators such as CMF and RSI. Despite no specific ripple effect on assets like BTC or ETH, XRP’s market cap shifted to $128 billion.
Market Sentiment and Long-term Stability
The cryptocurrency community is observing how these releases affect long-term price stability for XRP. Ripple’s escrow releases typically lead to brief volatility as the market adjusts to the increased circulating supply, followed by gradual stabilization. Brad Garlinghouse, CEO of Ripple Labs, noted, “Our programmed escrow releases are designed to provide predictability and confidence in XRP supply.” The continued transparency in Ripple’s operations remains a topic of interest for traders and investors reflecting on future market dynamics. On a related note, Ripple price prediction analysis and market trends.
| Disclaimer: The content on The CCPress is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions. |
