XRP influencer BABA urges XRP Army to be proud to be blacklisted amid seven years of claims that Ripple dumps XRP on retail.
Renowned XRP influencer BABA recently took to X to share an uplifting message with the XRP Army. In the tweet, he addressed the common concern of being ‘blacklisted’ and offered a perspective that encouraged positivity.
Specifically, BABA cited that the XRP Army should consider that critics have repeatedly claimed Ripple dumps XRP on retail investors every month for the past seven years.
“How come nobody blacklisted their nonsense?” BABA asked rhetorically.
Notably, the blacklist status implies not succumbing to the fear, uncertainty, and doubt (FUD) critics peddle about Ripple. BABA concluded his tweet urging XRP enthusiasts to take pride in being blacklisted since it means not following popular opinion.
“Be Proud To Be Blacklisted!” Baba remarked.
Good Morning
If you feel bad for being “blacklisted”
Always remember, on this day for seven years, people comment every month for the last 7 years, “Ripple is dumping on retail”
How come nobody blacklisted their nonsense?
Be Proud To Be Blacklisted ! pic.twitter.com/wJ1kPXZuJK
— BABA (@BabaCugs) September 1, 2023
Does Ripple Dump XRP on Retail?
It is worth mentioning that Ripple follows a well-regulated and foreseeable distribution of XRP tokens in the market. In particular, the blockchain payment firm unlocks one billion XRP on the first of every month.
The significant XRP unlock comes via an escrow account. Back in 2017, Ripple made the move of placing 55 billion XRP into escrow. The escrow arrangement specified the release of one billion XRP to Ripple at the onset of each month.
The Crypto Basic has reported the unlock of the one billion XRP for September 1. Meanwhile, Ripple often relocks a substantial amount of the released tokens shortly after they enter circulation.
For example, The Crypto Basic disclosed last month that Ripple took back 800 million XRP to escrow. Therefore, the popular claim that Ripple dumps XRP on retail investors may be misleading.
Ripple Unlock Impact on XRP
Notably, a crypto-focused account on X mentioned that a significant crypto investor moved nearly 20 million XRP to the Binance exchange after Ripple unlocked 1 billion XRP. According to the X user, the events have impacted the price of XRP.
?
Whale transfers 19.92 million $XRP to Binance
This happened after Ripple unlocked 1 billion $XRP (over $500 million) from escrow on Friday.
Temporary downside in price due to an increase in supply, but recovery is likely.
Stay safe. #DYOR pic.twitter.com/YlbeUzgLnB
— dyor exchange/features (@dyorexchange) September 1, 2023
Nonetheless, they acknowledge the potential for a bounce-back. According to data from CoinMarketCap, XRP is down 4% in the last 24 hours. The digital asset currently trades at $0.5013, with over $1,172,503,248 traded in the past day.
Meanwhile, it is worth mentioning that Ripple’s XRP sales have seen a notable increase this year. The Crypto Basic reported recently that Ripple’s monthly XRP sales increased by 37% compared to the previous year.
As of the firm’s most recent quarter report, it holds 47 billion XRP. Of this significant figure, 41.9 billion is under escrow.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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