Close Menu
  • Crypto News
  • Markets
  • Bitcoin
  • Ethereum
  • XRP
  • Altcoins
  • Technology
  • More
    • Crypto Prices – Latest from BTC, ETH & XRP
    • NFT
    • DeFi

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Trending

Cryptocurrencies to watch this week: Bonk, Aptos, Pi Network

July 6, 2025

Ethereum Price to Hit $6K This Year? Analysts Make Bold Call

July 6, 2025

Wall Street Has Claimed Bitcoin—Now What?

July 6, 2025

TON Surges on UAE Golden Visa News; Crypto Community Reacts With Excitement and Doubt

July 6, 2025

Ethereum Ready For Explosive Breakout, Analyst Says $5,791 Is The Minimum Target

July 6, 2025
Facebook X (Twitter) Instagram
  • Advertise
en English
nl Nederlandsen Englishfr Françaisde Deutschit Italianoru Русскийes Españolzh-CN 简体中文hi हिन्दीja 日本語
Crypto Observer
  • Crypto News

    Ethereum Price to Hit $6K This Year? Analysts Make Bold Call

    July 6, 2025

    Ethereum Ready For Explosive Breakout, Analyst Says $5,791 Is The Minimum Target

    July 6, 2025

    Bitcoin Exchange Outflows Continue To Rise: Investor Confidence At An All-Time High?

    July 6, 2025

    Bitcoin Meets Heartbreak In Drake’s Latest Track—Details

    July 6, 2025

    Are Bitcoin Retail Traders Back In The Market? On-Chain Data Suggests So

    July 6, 2025
  • Markets
  • Bitcoin
  • Ethereum
  • XRP
  • Altcoins
  • Technology
  • More
    • Crypto Prices – Latest from BTC, ETH & XRP
    • NFT
    • DeFi
Facebook X (Twitter) Instagram
Crypto Observer
Home » XRP » Ripple’s XRP buyback boosts price amid broader crypto market recovery
XRP

Ripple’s XRP buyback boosts price amid broader crypto market recovery

Crypto Observer StaffBy Crypto Observer StaffDecember 10, 2023No Comments2 Mins Read
Facebook Twitter Pinterest Reddit Telegram Email LinkedIn Tumblr
Share
Facebook Twitter LinkedIn Pinterest Email

© Reuters.

GLOBAL MARKETS – has recently undertaken a significant buyback of its XRP tokens, purchasing approximately 700 million units. This move has been linked to a notable price surge of over 7% for the cryptocurrency, taking its value to $0.69, as reported by CoinMarketCap. The buyback is part of Ripple’s strategy to stabilize the XRP market and maintain liquidity, particularly as other altcoins have also been seeing gains in what appears to be a wider recovery in the cryptocurrency sector.

The initial enthusiasm that boosted XRP’s price following a court ruling by Judge Analisa Torres, which determined that XRP is not a security, has since waned. Despite the legal clarity provided by the decision, XRP saw all its post-ruling gains erased in the subsequent weeks, underperforming in comparison to other cryptocurrencies.

While Ripple’s direct sales of XRP seem to have little direct impact on market prices, the selling activity of On-Demand Liquidity (ODL) customers on exchanges may exert downward pressure on the value of the digital asset. This distinction is particularly relevant for retail investors who experience the market differently depending on whether they are affected by direct sales or exchange-based selling pressure.

The observed decrease in circulating supply is indicative of Ripple’s substantial buyback efforts. These efforts are perceived as a response to concerns over the tepid movement in XRP’s price and may serve as a countermeasure against the potential price depression caused by ODL customer sales on exchanges.

This strategic acquisition by Ripple underscores the complexities of cryptocurrency markets, where various factors including legal decisions, company actions, and customer behaviors intertwine to influence prices. As the crypto market continues to recover, Ripple’s proactive measures aim to bolster confidence and stability within its investor community.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

SHIB’s Goal to ‘Finish Everything’ by End of 2024, Binance Freezes Stolen XRP Tokens, Anon Whale Moves $318 Million in Bitcoin to PayPal: Crypto News Digest by U.Today

February 2, 2024

Bitcoin Whales Boost Holdings by $3 Billion, Pro-XRP Lawyer Highlights Key Factor in Ripple’s Win, SHIB Price History Hints at Double-Digit Gains Next Month: Crypto News Digest by U.Today

January 30, 2024

XRP Starts Moving Earlier, Solana (SOL) Already Stronger Than Everyone Else; Does Ethereum (ETH) Need More Fuel?

January 27, 2024

‘Ripple Is Wrong’ Claims SEC In New Filing, Shibarium Announces New Era in SHIB Burns, Arthur Hayes Predicts Crucial BTC Bottom to Watch: Crypto News Digest by U.Today

January 25, 2024
Add A Comment

Leave A Reply Cancel Reply

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Top Posts

Cryptocurrencies to watch this week: Bonk, Aptos, Pi Network

July 6, 2025

Ethereum Price to Hit $6K This Year? Analysts Make Bold Call

July 6, 2025

Wall Street Has Claimed Bitcoin—Now What?

July 6, 2025
Advertisement
Demo

Crypto Observer is your one-stop website for the latest crypto news and updates, follow us now to get the news that matters to you.

Facebook X (Twitter) Instagram
Crypto News

Ethereum Ready For Explosive Breakout, Analyst Says $5,791 Is The Minimum Target

July 6, 2025

Bitcoin Exchange Outflows Continue To Rise: Investor Confidence At An All-Time High?

July 6, 2025

Bitcoin Meets Heartbreak In Drake’s Latest Track—Details

July 6, 2025
Get Informed

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Facebook X (Twitter)
  • Privacy Policy
  • Terms of use
  • Advertise with us | Publishing
  • Contact us
  • Crypto News – Press release
  • Newsletter sign up
  • Markets
  • Altcoins
  • Bitcoin
  • Crypto News
  • DeFi
  • Ethereum
  • Technology
  • Blockchain
  • AI
  • NFT
  • Thanks for joining us
© 2025 Crypto Observer. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.