Ripple’s XRP Holdings Plummet: Q4 2023 Witnesses Sale of Over One Billion Tokens
Ripple, a prominent player in the American payment industry, recently unveiled its voluntarily released Q4 2023 report, providing insight into the status of its XRP holdings. The report indicates a significant decrease in Ripple’s XRP portfolio, signaling a strategic shift.
The Evolution of Ripple’s XRP Portfolio
During the transition from Q3 to Q4 2023, Ripple’s spendable XRP balance decreased by 180,503,629 tokens, settling at 5,077,658,695. Additionally, its escrow balance saw a decline of 600 million tokens, reaching 40,700,000,005.
Ripple’s latest XRP Markets Report is now available, showcasing Q4 events in the crypto industry that brought important topics like compliance and anti-money laundering to the forefront, as well as significant regulatory and licensing wins and updates on XRP Ledger integrations.
https://t.co/5cuMXiVBjl
— Ripple (@Ripple)
February 8, 2024
The cumulative decrease amounted to 780 million tokens, resulting in a total XRP holding of 45.77 billion by the end of December 31, 2023.
However, a noteworthy aspect of the report is the sale of over a billion XRP tokens during Q4 2023. Comparing the values from the beginning of the quarter, where Ripple held 46.55 billion XRP, the report suggests a strategic move involving the sale of 1,006,417,233 (1.006 billion) XRP.
Recent Data & Financial Impact
Data obtained through Ripple’s API over the past month reveals a continuous decrease in Ripple’s XRP holdings. As of January 28, the spendable balance was reported at 5.05 billion XRP, with an additional 40.5 billion XRP secured in escrow. Combining accessible and non-accessible wallets, the total XRP portfolio now amounts to 45.5 billion.
In the span of 120 days, the recent sale of over a billion XRP tokens by Ripple has generated significant revenue of $526 million, considering the current XRP value of $0.5338.
Ripple’s Adaptive Strategy
The strategic adjustments in Ripple’s XRP holdings highlight the company’s adaptive response to the ever-changing cryptocurrency landscape. Ripple is strategically positioning itself amidst evolving market conditions.
XRP Price Could Experience a 6% Rally
Yesterday, XRP experienced a notable increase in its price, reaching $0.5338. This surge suggests the potential for an upward movement, with expectations that it could reach higher levels.
The next target for XRP is a resistance level at $0.5629, a crucial point that aligns with the 50% retracement of its decline from the highest point in 2024 to the low on January 31.
If XRP manages to close above this resistance at $0.5629, it opens up the possibility of a continued rally towards the next resistance at $0.6012.