China News Daily Official TheBitTimes.com

Ripple, the largest XRP holder, sold 150 million tokens from this month’s sell- off reserves on May 13. The sale is worth $75 million, representing 0.25% of XRP’s $28 billion capitalization with the token at $0.50. On May 1, the company released 1 billion XRP from the initial distribution, locked in monthly escrows until 2027. Ripple then sent 200 million XRP to its treasury account and locked the remaining 800 million in new escrows. As usual, the selling activity resulted from the treasury account, labeled Ripple (1) , sending tokens to the unlabeled account rP4X2…sKxv3 . This action causes XRP supply inflation—by putting tokens that have never circulated before into circulation for the first time. Picks for you Who will be the first trillionaire? 45 mins ago We asked ChatGPT-4o what will be Gold price at the end of 2024; Here’s what it said 1 hour ago President Biden blocks Chinese-backed crypto miner near Wyoming nuclear site 1 hour ago Co...

XRP is often haunted by whale movements, such as the recent 440 million XRP whale and Ripple’s monthly sell- offs. Moreover, court developments on the SEC vs. Ripple case directly impact the token and investors’ confidence. In the meantime, the cryptocurrency trading expert Ali Martinez warned of a possible sell- off scenario brewing for XRP. Martinez posted a technical Analysis on X (formerly Twitter) on January 18, showing a multi-year trend threatened to break down. “XRP is currently grappling to maintain its footing at the crucial $0.55 support level. Should this support fail to hold, be prepared for a possible sell- off scenario that could see XRP descending toward $0.34!” — Ali Martinez (@ali_charts)  XRP/USDT perpetual contract daily chart on Binance. Source: @ali_charts   XRP price analysis and possible bearish breakout Notably, the parallel channel spotted by Ali Martinez dates from 2022, and XRP has so far respected its range. XRP traded as high as $0.92 in July 2023...