Ripple surprised the crypto market by unlocking 500 million XRP following a recent release of the same amount, splitting its traditional 1 billion XRP monthly unlock into two parts.
Ripple has shifted to a more flexible approach with its XRP reserves, unlocking 1 billion XRP in July in two parts, relocking 700 million, and allocating the remaining 300 million for ecosystem expansion.
A whale sell-off in the XRP market resulted in over $1 billion worth of XRP being offloaded by large holders, signaling a drop in confidence and potentially exerting downward pressure on XRP's price.
XRP is currently facing resistance at $2.248, with analysts highlighting this level as a critical battleground zone determining the direction of XRP's price action in the near future.