CandleFocus 'September Effect': Ripple prepares larger dump of up to 350 million XRP
2024-09-06
Author: Content Editor
Ripple is preparing for a larger token dump this month, with 350 million XRP in its treasury account. The company recently added 150 million more XRP to its selling address, indicating a potentially larger sell-off. XRP has been in a consolidation zone since the start of 2024, and Ripple's previous token dumps have put pressure on its price. Historical data shows that September has been a negative month for XRP in the past. Ripple's support for Kamala Harris in the US presidential election has also surprised the market, considering Harris' previous hostility towards cryptocurrencies. Traders and investors will closely monitor Ripple's selling activities and political developments, as they could impact the token's price.
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