Ripple Sells 150 Million XRP From Its Reserve, Putting Pressure On Prices

According to PANews, Ripple has sold 150 million XRP from its reserve this month, causing pressure on XRP prices. The transaction is worth approximately $78 million, equivalent to 0.25% of XRP's market value of $29.25 billion (each token at $0.52). On June 1, Ripple released 1 billion XRP from its initial allocation, with these tokens being held in monthly custody until 2027. Subsequently, the company transferred 200 million XRP to its treasury account and locked the remaining 800 million in a new custody contract. At the same time, an additional 200 million XRP was transferred from the 'Ripple (35)' account to the reserve sale account, resulting in a total of 400 million XRP being deposited into the reserve for sale. These sales activities are usually sent from the 'Ripple (1)' treasury account to the unmarked account 'rP4X2hTa', causing market supply pressure. These newly circulated tokens usually pass through intermediate addresses such as 'rhWt2bhR', and eventually enter cryptocurrency exchanges, similar to operations in previous months.