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Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

Researcher Decodes Link Between XRP Price And Ripple’s Buybacks

Jake Simmons
Jake Simmons
1 year ago
3 mins read
Ripple XRP buybacks

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Ever since, the relationship between Ripple’s XRP buybacks and its impact on price has been a subject of intense discussion. Crypto Mark, an active community member on X, raised a pertinent question regarding Ripple’s strategy of purchasing more of the cryptocurrency. “Shouldn’t Ripple be trying to distribute XRP and not buying more though? Would like to see them own less XRP, not more,” Crypto Mark posted.

The Influence Of XRP Buybacks By Ripple On The Price

This inquiry was addressed by Mr. Huber, a renowned member of the community, who provided a detailed explanation of the dynamics at play. Huber emphasized the strategic rationale behind Ripple’s buybacks.

“That’s just a question of your knowledge. Ripple makes it transparent. That’s why we know. And you want Ripple to buy back XRP. You don’t want them to just sell it. Believe me. If XRP actually has a use for Ripple then you want them to buy on open markets for liquidity reasons,” he explained. This statement highlights the necessity and benefits of Ripple’s buyback strategy, suggesting that it is beneficial for maintaining market liquidity.

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In his analysis of the market, Mr. Huber pointed out key patterns: “Facts; 1. XRP has sudden inexplicable very fast price spikes between 30 and 100% which are then lost over several months. 2. These price spikes almost invariably coincide with buybacks of Ripple on open markets. They take place approximately once a quarter. 80% reliability. 3. If you look at these buybacks, you realize that when Ripple buys 100 million dollars of net purchases within 1-2 days, they trigger a price spike of around 50%.”

Recent data from Ripple’s API revealed a notable decrease in the company’s buyback activity. The researcher noted that the API was updated just days ago with the newest data. Ripple’s sales now account for 167,758,585 XRP, for an average of $0.62, which results in a total of $104,010,323 from December 4 to 29.

XRP sales / buybacks
XRP sales / buybacks | Source: X @Leerzeit

“This is twice the usual sales volume of the last 6 months. I suspect that Ripple wants to push this cut down again with the next buyback,” reported Mr. Huber.

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XRP Price Poised To Hit $20,000: Chad Steingraber Theory Outlines How

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Addressing a user’s question about the scale of investment needed for a substantial increase in the cryptocurrency’s price, Mr. Huber stated, “$100 million dollars trigger a price swing of around 30-50%. So for 2,000% you would have to expect at least 4-6 billion dollars in net purchases.” This response provides a clear indication of the financial magnitude required for substantial market movements.

Impact Of Ripple’s Sale And Distributions

Furthermore, Mr. Huber compared Ripple’s sales and distribution strategy with other cryptocurrencies. He wrote, “Ripples Sales and Distribution of XRP of the past 10 years. 6.48% Inflation for 2023. In comparison with SOL and ETH, it becomes clear that the price action is due much more to a lack of demand than to Ripple sales.”

He added, “ETH – Reducing supply and proof of stake, but hardly any price action since the Merge. […] The (XRP/XRPUSD)/(BTC/BTCUSD) chart shows that over the last 9 years, the supply of XRP has only increased by 22.73% more than the supply of Bitcoin.”

At press time, XRP traded at $0.63135.

XRP price
XRP price remains below the 0.382 Fib, 1-day chart | Source: XRPUSD on TradingView.com
Featured image from Kraken Blog, chart from TradingView.com
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Jake Simmons
Jake Simmons

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.

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His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.

Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.

For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.

As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.

In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.

You can engage with his latest takes on Twitter: @realJakeSimmons.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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