What’s Going On In Ripple? McCaleb steps up XRP sale
coinputin.com – Allegedly, Ripple co-founder Jed McCaleb began selling out of his huge XRP Treasury after a significant increase in XRP.
Ripple co-founder Jed McCaleb has launched record sales from his huge XRP Treasury after a significant increase in the trading volume of the digital currency, a leading crypto researcher has said.
Leonidas hadjiloizou of xrparcade noted that data from the XRP Ledger showed that McCaleb now has a relative 3.836 billion XRP, and the rate at which it sells its digital presence for fiat has increased. This parallels a settlement agreement he signed with Ripple in 2016. The deal aims to reduce the expected negative impact Ripple co-founder Jed McCaleb could have on the price of XRP in the market.
According to data from Whale Alert, Jed McCaleb’s wallets have been observed to have mobility.
900 million XRP locked back
Ripple, on the other hand, has released 1 billion XRP from its escrow wallet. Since 2017, Ripple continues to release a certain amount of XRP each month from its escrow wallet. Of the XRP’s released XRP, 900 million have been locked back today.
XRP’s 1 billion XRP into the market today made investors nervous. The XRP price is currently trading around $ 0.61. The cryptocurrency fell along with Bitcoin at noon.