Ripple’s latest API data shows a significant increase in public marketing of XRP this month. Famous XRP Community Figures Mr. Hoover We noted this development, noting that over the past 25 days, Ripple’s sales volume reached 167,758,585 XRP, averaging $0.62, for a total of an impressive $104,010,323.
The figure was double the usual sales over the past six months, sparking speculation about Ripple’s motivations.
XRP December Sale Highlights
API records from December 24 show that Ripple’s XRP balance dropped significantly by 60,159,086 XRP tokens, transacting over $37 million during the month. API data from earlier this month showed that Ripple released 59,443,728 XRP on December 17 and 48,155,771 XRP last week, each with a market value of about $30 million.
Ripple’s redemption tradition
Ripple has a tradition of buying back a portion of the XRP it sells, usually in the first week of each month. For example, in December, Ripple bought back 131,092,729 XRP after selling 235,857,273 in November. The company sold 104,764,544 XRP tokens in November, equivalent to approximately $63.9 million.
Speculation and Community Discussion
As Ripple’s three-week XRP sales in December exceeded its six-month average by two weeks, Mr. Huber said: Guess The company may be preparing a sizable share buyback to offset the surge in sales. Community discussions are ongoing, raising questions about the company’s funding delay and its impact on XRP’s broader market dynamics.
What are you looking forward to?
With a new record expected on December 31 and a redemption date set for January 7, 2024, Ripple’s XRP-enabled wallet currently holds a balance of 5,162,951,201 (5.16 billion) there is. Ripple’s recent market activity has caught the attention of observers, and the cryptocurrency community is eagerly awaiting further updates that will shed light on the company’s strategic moves toward managing its XRP holdings.”