XRP Supply Just Got Inflated Massively.

Ripple has just injected 1 billion new XRP tokens into the circulating supply.

Today, Ripples Santiment’s Supply Distribution indicator saw an uptick of 1 billion new XRP tokens. Sourced from Coinmarketcap, the XRP circulating supply now sits at 49.65B. Meaning now that nearly 50% of all XRP in existence has been distributed to the open market.

A few cryptocurrency-based news publications has claimed this recent information as bearish, indicated that some sort of whale dump could occur from this but we would argue differently.

As we know, Ripple has been on a crazy buying spree of XRP because of needing more supply to be able to sell to On-Demand Liquidity enabled customers. It is very publicly known that In Q2 2022 Ripple purchased a record amount of XRP from the open market which was roughly a $400M purchase spree, resulting in nearly 1.7 billion XRP being purchased.

This recent supply inflation is just Ripple selling XRP over the counter to partnered financial institutions with vested interest in XRPL ecosystem.