Is Ripple Boosting Marketing Efforts and Generating $104 Million from XRP Sales, Hinting at a Potential Significant Buyback?

Ripple’s recent surge in XRP sales has sparked curiosity within the cryptocurrency community, as the company sold over $104 million worth of XRP this month, double their usual amount. This increase in sales coincided with a rise in Ripple’s public marketing efforts, leaving many to wonder about the company’s strategic intentions.

One prominent figure in the XRP community, Mr. Huber, drew attention to the significant uptick in Ripple’s XRP sales. According to API data, the company sold a staggering 167,758,585 XRP over the last 25 days, with an average price of $0.62. This amounts to a total of $104,010,323, which is twice the sales volume seen in the previous six months.

The API records for December provide further insights into Ripple’s sales. On December 24, Ripple’s XRP balance decreased by 60,159,086 XRP tokens, equivalent to over $37 million in trades for the month. Earlier in December, the data shows that Ripple sold 59,443,728 XRP on December 17 and 48,155,771 XRP the following week, both valued at around $30 million each.

It’s worth noting that Ripple has a consistent practice of buying back a portion of the XRP it sells, typically in the first week of each month. In December, Ripple repurchased 131,092,729 XRP after selling 235,857,273 XRP in November. The company’s November sales amounted to 104,764,544 XRP, or approximately $63.9 million.

Given that Ripple’s December XRP sales have more than doubled the six-month average, Mr. Huber speculates that the company may be preparing for a significant buyback to balance the increased sales. This has sparked ongoing discussions within the community, with many questioning Ripple’s funding delays and the potential impact on the broader XRP market.

Looking ahead, as we approach the end of December, Ripple’s XRP spendable wallet currently holds a balance of 5.16 billion XRP, while 40.7 billion tokens remain in escrow. With a buyback date set for January 7, 2024, the crypto community eagerly awaits further updates that will shed light on Ripple’s strategic decisions regarding its XRP reserves.