According to Finbold's news, Ripple put pressure on the XRP price by selling 150 million XRP from its reserves on June 7 this month.
It was stated that the value of the XRPs sold was approximately 78 million dollars and corresponded to 0.25% of the market value of XRP of 29.25 billion dollars.
Ripple, which has historically unlocked 1 billion tokens through escrows completed on the first day of each month since 2017, on June 1 unlocked 1 billion XRP from the first distribution locked in monthly escrow until 2027.
Ripple then sent 200 million XRP to the treasury account and locked the remaining 800 million in new escrow.
The news stated that the sale took place as usual, by sending XRP from the treasury account labeled 'Ripple (1)' to the unlabeled 'rP4X2hTa' account.
Recalling that historically XRP has experienced a local crash most of the time when Ripple has been selling, analysts advised investors to watch XRP closely in June as it could slow down the expected rise.
XRP, which has decreased by 0.13% in the last 24 hours, continues to be traded at $ 0.525 at the time of writing.
*This is not investment advice.
