Ripple has sold more than $100 million worth of XRP. The corporation sent 200 million XRP from its coffers to an unknown address. This shift coincides with a minor recovery in the price of XRP.
XRP is trading in the $0.54 area. However, it has lagged the overall cryptocurrency market, down around 9% over the last 30 days. Ripple's selling approach is based on On-Demand Liquidity, which allows it to sell to willing clients at market prices. The company's monthly XRP unlocks and sales have pressured the token's value.
In an unexpected political move, Ripple co-founder Chris Larsen pledged $10 million to Kamala Harris' presidential campaign. This links Ripple with the Democrats, despite the industry's overall support for Donald Trump.
The crypto community is eagerly watching Ripple's monthly token unlocks and sales. On November 1, an additional 1 billion XRP will be freed, potentially increasing market selling pressure.
