Ripple’s XRP Holdings Take a Dip: Sells Over a Billion Tokens in Q4 2023

The post Ripple’s XRP Holdings Take a Dip: Sells Over a Billion Tokens in Q4 2023 appeared first on Coinpedia Fintech News

Ripple, a major player in the American payment industry, recently released its voluntarily issued Q4 2023 report, shedding light on the status of its XRP holdings. The report reveals a substantial decrease in Ripple’s XRP portfolio, indicating a strategic shift.

Ripple’s XRP Portfolio Evolution

In the transition from Q3 to Q4 2023, Ripple’s spendable XRP balance witnessed a reduction of 180,503,629 tokens, settling at 5,077,658,695. Simultaneously, its escrow balance even saw a decline of 600 million tokens to 40,700,000,005. 

Meanwhile, this cumulative decrease amounted to 780 million tokens, reflecting a total XRP holding of 45.77 billion by the end of December 31, 2023.

However, a significant 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

Over the past month, data obtained through Ripple’s API reveals a continued decrease in Ripple’s XRP holdings. Until January 28, the spendable balance was reported at 5.05 billion XRP, alongside an additional 40.5 billion XRP secured in escrow. Combining both accessible and non-accessible wallets, the total XRP portfolio now amounts to 45.5 billion. 

Although, in the span of 120 days, the recent sale of over a billion XRP tokens by Ripple has generated a substantial 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 dynamic cryptocurrency landscape, positioning itself strategically amid evolving market conditions.

XRP Price Could Rally 6%

Yesterday, XRP showed a notable increase in its price, reaching $0.5338. This surge indicates a potential upward movement, with expectations that it could reach further heights. 

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 the possibility of a continued rally toward the next resistance at $0.6012.