In February, Ripple sold 120 million of the 200 million XRP it had reserved for its treasury. The interesting thing about this process is that the wallet address that has been dormant for two years, which is controlled by the company and which is marked by XRP Scan as “Ripple (52)” sent 100 million tokens worth $53.5 million to the address “Ripple (1)“
The receiving wallet is Ripple's treasury account, which is used to hold liquid reserves in case of sales.
Before the unexpected transfer, the organization wiped out its treasury balance by selling the remaining 80 million XRP. This indicates that Ripple may liquidate an additional portion of its assets beyond its normal monthly sales.
Account Summary Ripple (1). Source: XRP Scan
The Ripple (52) account was activated in August 2022, at which time he received 500 million XRP from Ripple (29). After spending 75 million on August 29, 2022, the company did not use the inactive address again until February 11, 2024.
Interestingly, it still has 325 million available XRP on its liquid balance sheet.
Summary information about the Ripple account (52). Source: XRP Scan
Ripple Monthly Sales
Each month, the XRP issuing company releases additional tokens into circulation. Typically, Ripple unlocks 1 billion XRP, leaving 200 million for sale and re-locking 800 million for future releases.
However, over the past two months, the organization has begun to liquidate some of its reserves. Higher sales exceeding monthly unlocks were observed in both December 2023 and January 2024.
For this reason, investors can expect larger token sales, which will have some impact on the price of the crypto asset.
Source: Cryptocurrency
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