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Ripple 
$2 sparked intrigue in the crypto community with its transactions on May 1. The company transferred approximately 500 million XRP between its internal wallets in a matter of minutes. It was noted that 1 billion XRP was unlocked as part of its monthly cycle, with specific amounts subsequently relocked.
500 Million XRP Transfers and Transactions
Data revealed that Ripple transferred XRP valued at around $1.1 billion. These transactions took place between internal wallets, not external ones. The community closely monitored them as they aligned with the firm’s regular monthly unlock cycle.
Token Locking Process
Further data indicated that Ripple opted to partially relock the XRP acquired monthly to temporarily withdraw them from the market. Approximately 500 million XRP were relocked in the first transaction, followed by 170 million and 30 million XRP in subsequent transactions. Consequently, 700 million out of the 1 billion XRP circulated in May were kept under lock.
Market and Technical Indicators
Following Ripple’s transfers, crypto experts highlighted potential directional shifts in XRP’s price. It was observed that XRP was facing critical structural support at the $2.25 mark. Analysts suggested that after completing internal wave fluctuations, XRP might be directed toward the $2 range.
CasiTrades stated, “XRP has dipped below the set price level entering a sub-wave movement. In the final stage, a drop to $1.90 might be seen; however, this situation is temporary, with a rise to $2.68 and $3 expected after a final clean breakout.”
Moreover, market evaluations reported that technical indicators like RSI were showing signs of excessive fatigue. This suggests the price might recover after a temporary decline. Ripple’s stablecoin RLUSD was noted to have reached a market value of $300 million.
Earlier reports indicated that Ripple made an acquisition offer of approximately $4-5 billion to USDC issuer Circle, but Circle deviated from the offer. Hence, Ripple’s efforts to increase its market share continued with new developments.
Current developments have led to various speculations concerning Ripple’s transaction strategies and market dynamics. The transfers and locking transactions were evaluated to reflect the firm’s revenue management policies.
This report provides crucial data regarding Ripple’s monthly transactions and market techniques. Investors may feel the need to closely monitor transactions and price movements, while technical indicators appear to offer insights about potential future price directions.
