The impact of this demand on the crypto market is likely to be huge. Ripple may have to sell the XRP tokens it holds to pay this fine, which could negatively affect the XRP price.
How Will the XRP Sale Affect the Market?
The amount of XRP Ripple holds may be enough to pay the fine, but the impact of such a sale on the market is uncertain. Considering the impact of Ripple's previous monthly XRP sales on the market, market volatility and pressure on prices may occur.
Uncertainties Determine XRP Price
The Ripple lawsuit is an important turning point for the crypto sector and one of the main factors affecting the price of XRP is currently uncertainty. In previous years, the impact of this case was cited as one of the main reasons why XRP did not increase in price. As long as these uncertainties continue, it can be predicted that the XRP price may even fall.
The current XRP price is trading at $0.63, which is only 6% higher than a year ago. This could be an indication that the XRP price is being suppressed.
