Ripple is moving 200 million XRP of March’s reserved amount from this month’s unlock, usually used to sell in exchanges. At current prices, this batch is worth over $465 million and could pressure the XRP price downwards, favoring the bears.
On March 1, the company unlocked 1 billion XRP from escrows previously set in ‘Ripple (26)’ and ‘Ripple (27)’ accounts. After that, XRP’s largest holder reserved 300 million of the token in ‘Ripple (1)’ account, a liquid wallet for its treasury, usually preceding sales or payments.
This, however, has not been a one-time thing, as such a pattern has repeated month over month for years, already. On March 13, replicating previous activities, ‘Ripple (1)’ sent, yet again, 200 million XRP to the ‘rP4X2hTa7A7udDbE6wczXvPz7XZ63sKxv3’ account.
There is still 100 million XRP remaining in Ripple’s liquid treasury reserves, which could follow up this recent transaction. Finbold retrieved all the above onchain data from XRP Scan on March 14, and they are publicly verifiable.
‘Ripple (1)’ or ‘rBg2FuZT91C52Nny68houguJ4vt5x1o91m’ account balance and assets. Source: XRP Scan / Finbold
Will Ripple sell the 200 million XRP moved in March?
So, “will Ripple sell the 200 million XRP moved in March?” There is no simple answer to that. While the company did not disclose each sale separately, Ripple has already disclosed its selling model on many occasions. According to sources, its XRP sales go through an On-Demand Liquidity (ODL) model, selling at market price to willing customers.
Finbold has been monitoring and reporting these activities since August 2023 and Vinicius Barbosa since months before that. What we have observed, so far, is that ‘Ripple (1)’ sends the reserved tokens to ‘rP4X2hTa7A7udDbE6wczXvPz7XZ63sKxv3’, acting as an anonymous intermediary step before further distribution.
After landing on this intermediary account, the XRP tokens can be sent to other anonymous wallets in small batches. However, the usually larger amount goes to ‘rhWt2bhRq3wiK9sQnYVmhhKb5Dr2SE32hk’, another intermediary account that sends the XRPs to ‘r4wf7enWPxyHtbizyV7ZHiZi5XgwHh4Rzn’.
This is the last step before a standard deposit to a few centralized exchange addresses, like Bitstamp, Bitso, and others. As of this writing, these deposits are already happening using old balances available in other Ripple-connected accounts.
r4wf7enWPxyHtbizyV7ZHiZi5XgwHh4Rzn Ripple-connected account. Source: XRP Scan / Finbold
XRP price analysis as Ripple moves tokens
As of his writing, XRP is trading at $2.32, down 2.52% in the last 30 days. Since a peak on March 2, reaching $2.93, Ripple’s token is down nearly 24%, signaling a price struggle.
XRP 30-day price chart. Source: Finbold
Now, traders and investors will need to watch the following developments and activity, as they position themselves around the news. This amount of tokens, if reaching the market in a short period of time, can create significant sell pressure.
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