Ripple has allocated 200 million XRP (worth $112 million) for its treasury after unlocking 1 billion tokens in January. On January 7th, Ripple initiated the sale of half of this month’s supply inflation, according to on-chain data.
The sales resemble patterns from the previous year, with transactions indicating a transfer of 100 million XRP, valued at $56 million. A known Ripple wallet, ‘Ripple (1)’, sent tokens to an account named ‘rP4X2…sKxv3’.
The ‘rp4X2’ address retained 82.3 million XRP, while transferring 17.7 million XRP to another address ‘rhWt2…E32hk’. The former address currently holds a balance worth over $52 million.
Subsequently, ‘rhWt2’ transferred the 17.7 million XRP to ‘r4wf7…h4Rzn’, an address previously used for transactions to central exchange accounts. On January 8th, this address sent a total of 45.72 million XRP to four identified exchange addresses.
Of these XRP, 26.6 million went to Bitstamp, 12.1 million to Bitso, 1.4 million to Independent Reserves, and 5.3 million to BTC Markets. An unknown address also received 320,000 tokens. Ripple still has 100 million XRP liquid in its wallets, and the presence of these tokens creates market pressure due to potential sales, affecting XRP’s price. Ripple’s asset sales are strategic, impacting the token’s 24-hour trading volume and short-term price movements.