Ripple, the leading developer behind the digital asset XRP, is poised to sell 200 million XRP in August, valued at approximately $110 million based on current market prices.
This substantial sale could create significant selling pressure in the market, potentially driving down the price of XRP.
On August 1, Ripple released one billion XRP from three separate accounts. This release included 200 million and 300 million XRP from two escrow accounts, and an additional 500 million XRP from a single contract. Following this release, Ripple moved 200 million XRP to its treasury account, a routine action that occurs each month.
The market anticipates that Ripple will strategically sell portions of this XRP from its treasury account throughout August, which could lead to increased transactions on cryptocurrency exchanges.
Notably, Ripple has locked the remaining 80% of the released XRP into new escrow accounts, which will expire by 2027.
According to Finbold, Ripple has sold 1.826 billion XRP from its treasury account since the beginning of the year, amounting to $1 billion at the current price of $0.547 per XRP. This has resulted in an 11% decline in the asset’s value year-to-date and a 12.14% drop since the August 1 release.
In January, Ripple’s sale of 226 million XRP over three days negatively impacted the asset’s price. Similarly, in February, the sale of 260 million XRP across three days also affected the market, although two of those days saw positive performance.
