🔥 Land A High Paying Web3 Job In 90 Days LEARN MORE

Ripple massive token unlock signals a possible sell-off

In this post:

After Ripple massive token unlock of around 100,000,00 ($27.9), crypto enthusiast began to fear a sell-off is imminent. Ripple unlock was made known through Twitter after one user Whale Alert tweeted about the unlocked cryptocurrency.

People who possess the XRP coin are also predicted to begin selling off because of the Ripple massive token unlock unlocked amount from the escrow wallet. However, XRP started rising earlier this week but this was also expected to be short-lived. Crypto users’ reaction to the news of the Ripple massive token unlock has been negative although other people were indifferent about the news of another batch of unlocked XRP token.

https://twitter.com/hopmtl77/status/1225443971612250113?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1225443971612250113&ref_url=https%3A%2F%2Fbeincrypto.com%2Fripple-unlocks-another-100000-xrp-traders-fear-sell-off%2F

Ripple massive token unlock becoming a persistent occurrence

Reportedly, it has been observed that unlocking a token has become a persistent occurrence by Ripple and has stirred controversies. However, what the unlocked funds are used for remains unknown to crypto holders as the unlocked funds persistently being drawn is estimated at around $100 million monthly.

Previously, Ripple CEO Brad Garlinghouse has given his word to crypto holders that they are in no position to thwart XRP price and don’t want the XRP market value to drop.  But then crypto holders do not believe his claims as they are afraid that another portion of the crypto has been activated to improve the company’s profit drive without considering the aftermath to crypto holders.

See also  UK detects crypto laundering pipeline used by gangsters and Russian intelligence

XRP crypto ranks after Bitcoin and Etherum in the crypto world and was recently listed on BitMEX for XRP/USD exchange. Not long after the crypto got listed, when BitMEX CEO called XRP ‘dogshit,’ he went on to write that the crypto has its value. Therefore, it would be traded on BitMEX.

XRP current market situation

The crypto currently is on the rise with a +2.94% increase and continues to reflect strong trading volumes. Brad Garlinghouse, Ripple’s CEO, has also taken to twitter to come to the aid of XRP before those criticizing it.

In his defense, Garlinghouse mentioned that their crypto has fared better than BTC and the crypto market this year. Although the claim contradicts previous reports, Ripple crypto will be subject to forensic checks as this new unlock has a giant effect on the entire crypto market.

Featured Image by Pixabay

Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap

See also  Crypto miner Mawson pushed into bankruptcy court by creditors

Share link:

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Editor's choice

Loading Editor's Choice articles...
Cryptopolitan
Subscribe to CryptoPolitan