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Ripple co-founder temporarily stopped dumping XRP

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Ripple co-founder temporarily stops dumping XRP

Ripple co-founder temporarily stopped dumping XRP
CONTENT

  • Former Ripple Co-founder Suddenly Stops Selling Assets

  • Analyst Leonidas Haciloizu believes that “serious manipulations” are taking place in the market

  • XRP price continued to fall again

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Ripple co-founder and former CTO McCaleb temporarily stops selling XRP to contain the fall amid litigation with the SEC

The founder of the well-known crypto exchange Mt.Gox, as well as the co-founder of Ripple (formerly Ripple Labs) Jed McCaleb temporarily stopped merging XRP tokens. Analyst Leonidas Hadzhiloizu was the first to draw attention to this.

Ripple co-founder temporarily stopped dumping XRP

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On his Twitter page, Haciloizu wrote that in the first week of December alone, McCaleb managed to drain more than 200 million tokens. Since early December, McCaleb has been pouring several million XRP tokens into the market every day. The former co-founder of Ripple received his share of the project in the amount of 9 billion XRP. In May 2014, he announced a decision to liquidate his assets..

Haciiloizu noted that no XRP has been sent from McCaleb’s wallet since December 24.

Interesting coincidence

In the meantime, users are already trying to understand the reason why the famous XRP dumper decided to stop selling assets. User @ MarkCrypto8 Suggests SEC Lawsuit Against Ripple May Have Force McCaleb to Stop Dumping.

“Maybe he understands that he will probably have to return part of his funds in the form of fines,” added the user.

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At the same time, another Twitter user @ MMMikey81 stressed that McCaleb’s decision to stop the drain is unlikely to be related to litigation, since McCaleb himself does not appear in the lawsuit:

“I guess he doesn’t want downward pressure, he’s personally interested in XRP’s price.”.

Ripple co-founder temporarily stops dumping XRP

Hadjiloizu believes that the crypto market is witnessing either “wild coincidences” or “serious manipulations.” The analyst himself leans towards the latter.

“XRP was pumped twice, followed by extremely negative news. It looks like the price has been pumped up for some organizations / people to drop it at a higher price, ”he says..

XRP / USDT price at the time of writing is $ 0.297 (-15.59%). More details about what the SEC accuses Ripple of can be found in a special material from BeInCrypto.

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