CandleFocus Beware: Ripple prepares for largest XRP monthly dump in 7 years
2024-11-02
Author: Content Editor
Ripple, the core developer and largest holder of XRP, has reserved 470 million XRP to sell this month, which is more than double the usual amount. This has raised concerns as it could negatively impact the token's price. In June, Ripple had its previous largest dump, selling 400 million XRP and causing the price to drop nearly 20%. XRP has accumulated 18.70% losses this year and Ripple has sold 2.576 billion XRP so far in 2024. The increased selling pressure from Ripple comes just before the U.S. Presidential Election, and the outcome of the election is expected to have an impact on the crypto market. XRP investors and traders should pay attention to Ripple's moves in the coming days.
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