The release was performed through three separate transactions, causing notable market fluctuations. The first transaction released 100 million XRP tokens valued at approximately $59.98 million. This was followed by two more transactions, releasing 400 million and half a billion tokens respectively, valued at $239.92 million and $299.9 million.
Following the release, the price of XRP experienced a temporary drop of 3%, but it quickly recovered. At present, XRP trades with a marginal decrease of 0.8% from Tuesday’s closing price.
Interestingly, on Tuesday, XRP had shown robust performance with a surge of 10.5% at one point in the day, ending with an overall increase of 3.74%. Currently, XRP is trading around $0.6 per token, marking its highest price since mid-August 2023.
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Source: Cryptocurrency - investing.com
