• Ripple plans its largest monthly XRP dump since 2017 with 400 million tokens.
• Whale activity highlights significant interest from large investors, despite bearish trends.

Setting aside 400 million XRP tokens valued at $208 million for a June sell-off, Ripple has prepared its treasury account for what may be the biggest monthly XRP dump since 2017. The biggest XRP holder and the company driving XRP Ledger development, Ripple, sells some of its reserves each month to raise the amount in circulation.

As usual, on June 1, Ripple used the XRP Ledger escrow mechanism to unlock 1 billion XRP, or $520 million, from two accounts designated “Ripple (24)” and “Ripple (25).”

Ripple’s June Sell-Off: 400 Million XRP Tokens Reserved

The dormant account “Ripple (35)” added 200 million XRP to “Ripple (1)” in addition to the regular 200 million tokens given to the Treasury each month, indicating a potentially bigger dump this month.

First sending 200 million XRP to “Ripple (1)” in May, “Ripple (24)” then sent 300 million tokens to “Ripple (13)” and re-locked them in escrow until September 2027.” In a similar vein, ‘Ripple (25)’ transmitted 500 million unlocked tokens to ‘Ripple (12),’ locking them until October 2027 and allowing XRP Scan to verify every transaction on-chain.

Ever since introducing escrows in 2017, Ripple has set aside no more than 350 million XRP for its monthly dumps. Sometimes Ripple retains some of the month’s reserves for a stronger sell-off opportunity in the next few months, but it never dumps more than 400 million XRP at once.

January through May of 2024 saw Ripple sell 226 million, 260 million, 240 million, 200 million, and 200 million tokens, in that order. Though supply inflation still affects XRP pricing, the company put in place the escrow system in 2017 in response to investor concerns over transparency.

Sales by Ripple put supply pressure on the spot market, which frequently results in local price crashes for the token. Just five of the 12 sell-off days this year have seen positive price action, underscoring the need to keep an eye on Ripple’s operations. Three of the first five months of 2024 saw XRP perform negatively on a monthly basis.

Current Market Performance and Whale Activity 

CoinMarketCap data show that the price of XRP is about $0.5142 at the moment of writing, down 1.03% from the last 24 hours. At 3.91%, this also represents a negative position for the previous 7 days. Also, a whale accumulated $52 million worth of XRP tokens from Binance, as CNF previously reported.

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