RATE Group | Ripple Co-Founder Has Now Sold 1,000,000,000 XRP – Is It Affecting the Price of the Thir…
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Ripple Co-Founder Has Now Sold 1,000,000,000 XRP – Is It Affecting the Price of the Thir…

07 Feb Ripple Co-Founder Has Now Sold 1,000,000,000 XRP – Is It Affecting the Price of the Thir…

Posted at 23:45h in Cryptocurrency News by

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Jed McCaleb, co-founder of Ripple and Stellar, has now sold $1.05 billion XRP since 2014, according to a new report.

McCaleb’s crypto assets are compensation for his previous role at Ripple. In 2016, after a legal battle with Ripple over how much XRP he was selling, the two sides reached an agreement allowing him to slowly sell a remaining 5.3 billion XRP at a rate as high as 1.5% of the average daily volume of the digital asset. 

After exploring McCaleb’s sales, the team at Whale Alert determined that he has 4.7 billion XRP left, and that he continues to sell, releasing 19 million XRP onto the open market this month alone.

As for the direct impact his sales have on the price of the third-largest digital asset by market cap, Whale Alert says compared to the trading volume of all XRP on the market, McCaleb’s sales seem insignificant. However,  it is difficult to determine exactly how much additional XRP the market can handle.

“Compared to…

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