On the first day of July, Ripple, the San Francisco-based blockchain giant, just unlocked a billion XRP tokens from its custodial wallet in two separate transactions, according to Whale Alert.
The tokens have a cumulative value of over $ 177 million, but their scheduled launch is not expected to impact XRP price performance.
Ripple blamed for XRP price performance
In December 2017, Ripple moved 55 billion tokens to its multiple crypto-guaranteed deposit wallets to ensure predictability of supply.
Ripple has long been accused of negatively affecting the price of XRP with its quarterly sales, with CoinMetrics founder Nic Carter, linking them directly with the abysmal performance of the token.
Almost 4,000 members of the XRP community have signed a request on change.org to urge the decacorn blockchain to stop downloading XRP.
Last August, the CEO of Ripple, Brad Garlinghouse claimed that these sales were intended to increase the adoption of the token.
XRP fails to recover despite infinitesimal sales
However, despite XRP sales declining just $ 1.75 in the first quarter of 2020, the price of the token continues to drop eight percent (in stark contrast to the rest of the crypto market).
As of January 2018, Ripple owned 60 billion XRP tokens that were valued at the a staggering $ 198 billion at its maximum price of $ 3.30.
<img xmlns = "http://www.w3.org/2000/svg" class = "i-amphtml-intrinsic-sizer" style = "box-sizing: border-box; border-style: none; max-width : 100%; display: block; " role = "presentation" src = "https://criptoinforme.com/data:;base64,”Alt =” ”aria-hidden =” true ”/>Now that the price of XRP has fallen off a cliff, it would only be worth $ 10.2 billion as of today.