Ripple is gearing up its treasury for what could potentially be the most substantial monthly XRP release since 2017. The firm has earmarked 400 million XRP tokens, valued at $208 million, for its June sell-off. Ripple, the largest holder of XRP and the driving force behind the XRP Ledger development, routinely sells a portion of its reserves each month, increasing the circulating supply.
In keeping with its usual practice, it released 1 billion XRP, valued at $520 million, on June 1. This was facilitated through the XRP Ledger escrow system via two designated accounts: ‘Ripple (24)’ and ‘Ripple (25).’
Aside from the typical monthly transfer of 200 million tokens to the treasury, the inactive ‘Ripple (35)’ account has also moved an extra 200 million XRP to ‘Ripple (1).’ This could indicate that Ripple is planning a more significant sell-off this month.
Since it implemented escrows in 2017, Ripple has consistently set aside a maximum of 350 million XRP for its monthly sell-offs.
On occasion, the company has held back a portion of the month’s reserves, awaiting a more opportune time for a sell-off in subsequent months. On the other hand, some months have witnessed a larger sell-off than initially set aside, but it has never exceeded 400 million XRP.
During the first five months of 2024, Ripple’s sales were as follows: 226 million in January, 260 million in February, 240 million in March, and 200 million each in April and May.