Ripple, the company behind the XRP cryptocurrency, remains one of the most influential players in shaping XRP’s market behavior. As the largest holder of XRP, Ripple’s monthly token unlocks and strategic sell-offs have consistently influenced price trends, investor sentiment, and overall supply dynamics. With approximately 1.826 billion XRP sold from its Treasury account—valued at around $1.07 billion at current market rates—understanding Ripple’s actions is essential for any investor navigating the XRP ecosystem.
Ripple’s Monthly Sales and Market Reactions
Ripple employs a structured approach to releasing XRP into the market through monthly unlocks, often followed by selective sell-offs. These activities directly affect liquidity and can trigger short-term volatility in XRP’s price.
Early-Year Sales Patterns
The beginning of 2024 set a clear tone for how Ripple’s sales correlate with market performance:
- January: Ripple sold 226 million XRP over three consecutive days. This influx of supply coincided with a noticeable dip in XRP’s price, highlighting the immediate impact of large-scale selling.
- February: A similar volume—260 million XRP—was offloaded across multiple days. Interestingly, two of those days saw positive price movement, suggesting that broader market conditions or external news may have offset selling pressure.
- March: Ripple sold 240 million XRP over just two days, aligning with negative price action. This reinforces the trend that concentrated sell-offs often precede or accompany downward momentum.
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April and May: Mixed Market Responses
In both April and May, Ripple maintained its strategy by selling 200 million XRP on two separate days each month. Unlike earlier months, these sales were followed by gains on three out of four trading days. This divergence suggests that increased investor confidence, macroeconomic factors, or improved market liquidity may have absorbed the additional supply without triggering a price decline.
June: The Largest Sell-Off of the Year
June marked a turning point with Ripple offloading 400 million XRP over two days—the largest single-month disposal in 2024. This significant increase in supply contributed to downward price pressure, reinforcing concerns about oversupply during periods of high corporate selling.
More recently, Ripple executed another major sale: 300 million XRP split into two batches of 150 million. Surprisingly, this event coincided with a price surge, indicating that markets may be adapting to predictable unlock schedules or that bullish sentiment was driven by external catalysts.
Current XRP Market Performance
As of July 22, XRP is trading at $0.603, reflecting a 2.3% gain over the previous 24 hours. This recovery follows a sharp drop earlier in the month, showcasing resilience despite ongoing selling pressure.
XRP has experienced a general downtrend throughout 2024, characterized by lower highs and lower lows—a classic sign of bearish momentum. Analysts attribute this trend partly to Ripple’s consistent release of new tokens into circulation, which increases available supply and can suppress price growth if demand remains stagnant.
Supply Inflation and Market Equilibrium
The current circulating supply of XRP stands at 55.91 billion tokens. Ripple’s activities in 2024 have increased this supply by 3.26% year-to-date, a figure that closely matches the observed net price loss over the same period. This correlation underscores the importance of supply-side dynamics in determining long-term value.
While Ripple emphasizes responsible distribution and use-case development, investors must weigh these benefits against the dilutive effect of regular token releases.
Upcoming Unlock Events to Watch
Investors should prepare for the next major unlock: 1 billion XRP scheduled for release on August 1. Although not all of these tokens will necessarily enter the market immediately, even partial sales could influence short-term price action.
Historically, anticipation of large unlocks has led to pre-emptive selling or consolidation phases. Therefore, monitoring Ripple’s Treasury movements in early August will be crucial for assessing potential volatility.
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Recent Price Recovery and External Influences
On July 22, XRP reached $0.60—a **12% rebound** from its recent low of $0.54 on July 19. This recovery outpaced gains seen in other major cryptocurrencies; during the same period, Bitcoin rose 7% and Ethereum gained 5%.
While technical factors likely contributed to the bounce, broader market sentiment may have been influenced by macro-level news—such as political developments including President Joe Biden’s withdrawal from the presidential race. Such events often trigger risk-on behavior across financial markets, benefiting speculative assets like cryptocurrencies.
However, it's important to distinguish between temporary sentiment-driven rallies and sustainable price trends rooted in adoption and utility.
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Frequently Asked Questions (FAQ)
Q: Does Ripple sell all unlocked XRP immediately?
A: No. Ripple unlocks 1 billion XRP monthly but only sells a portion based on operational needs and market conditions. The remainder stays in reserve for future use, partnerships, or strategic initiatives.
Q: How do Ripple’s sales affect XRP’s price?
A: Large or concentrated sales can increase sell-side pressure, especially in low-liquidity environments. However, the impact varies depending on market sentiment, overall crypto trends, and whether the sale was anticipated.
Q: Is XRP’s downtrend solely due to Ripple’s selling?
A: While Ripple’s sales contribute to supply inflation, other factors like regulatory uncertainty, market sentiment, and broader economic conditions also play significant roles in shaping XRP’s price trajectory.
Q: Can XRP recover despite ongoing sales?
A: Yes. If demand from institutional adoption, payment solutions, or global remittance networks grows faster than supply increases, XRP can still appreciate. Real-world utility remains a key driver for long-term value.
Q: What happens when 1 billion XRP unlocks on August 1?
A: The unlock adds to Ripple’s available balance but doesn’t automatically flood the market. Actual price impact depends on whether Ripple chooses to sell any portion and how traders react to the event.
Q: Where can I track Ripple’s XRP sales and wallet movements?
A: On-chain analytics platforms provide real-time tracking of large transactions. Monitoring these movements helps anticipate potential volatility ahead of major market shifts.
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