Summary
- It was reported that XRP is showing short-term weakness.
- It was stated that investor sentiment has weakened as Ripple conducted a large-scale token unlock from escrow.
- Market analysts explain that concerns about potential selling have increased, leading to a price decline.
XRP is showing short-term weakness. As a large amount of tokens from Ripple’s escrow have been unlocked, investor sentiment appears to have frozen.
As of 6:41 a.m. (KST) on the 11th, XRP is trading at $3.16 on CoinMarketCap, down 2.60% from the previous day.
On the 9th, Ripple unlocked a total of 1 billion tokens in three batches from escrow. Since 2017, Ripple has regularly unlocked a certain level of tokens to stabilize supply.
However, market concerns over potential sell-offs have emerged, which is analyzed to have led to the price decline.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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