Co-founder of Ripple , jed McCaleb left the company shortly after its founding. On his hands he left a large fortune — more than 9 billion XRP. According to Whale Alert, McCaleb actively parted with the coins selling them on the equivalent of a minimum of 375 thousand dollars every day at the market price. Under some assumptions, it was the daily sale of millions XRP inhibits altcon from growth, but experts have a different opinion.
We checked the latest data: Ripple XRP is still in third place in the overall ranking cryptocurrency with a market capitalization of 13.38 billion. We will remind, the coin most often criticized for its centralization and unlimited offers. That is, the representatives of the company can create XRP in any quantity that in fact threatens the course of the existing coins in the future.
Here’s a chart of the course of XRP over the last three months.
And here’s the schedule for the Ripple all the time.
What prevents the growth of Ripple coins?
At the moment, XRP is trading at 29 cents. We will remind, in January 2018 altcon set a historical record price in the area of 3.40 dollar. Since then, his value has slipped to 91.2 percent. XRP has only recently began to show some signs of growth — for the last week the value of the coins rose by 34.2 percent.
Ripple supporters are afraid that due to the huge amount of XRP in the hands of McCaleb can sell all the coins at one point, significantly bringing down the price of the asset. Immediately after his departure, Jeb has promised to get rid of only a fixed amount of XRP each year. But in 2016 the deal is somewhat different: now Mccalebb was allowed to sell a percentage of the daily volume of trade transactions with XRP.
Under such conditions he could liquidate their savings in the crypt is relatively painless for the market. Yesterday, a 24-hour trading volume reached 5.2 billion dollars , which is the highest reading since mid-February of this year. According to Whale Alert, from January McCaleb already sold 220 percent more XRP than last year.
Topic: Bitcoin maximalist refused to buy XRP or TRX and explained his choice.
On average, each day the co-founder of Ripple and now sells for 1.74 million XRP. It is approximately 374 200 dollars at the current exchange rate Aldona. The owner of the account Whale Alert on Twitter I am sure that the number is “insignificant compared with the total trading volume of the cryptocurrency”. That is McCaleb can’t bring down the price Aldona. Here is a quote analyst.
The main question is how much McCaleb affects the amount of available XRP. Despite the fact that we do not have enough data to make a definitive statement about this, we can determine that jed McCaleb is one of the reasons for the rapid increase in the number of free coins in circulation.
That is, analysts came to the conclusion that McCaleb not so much impact on the market to fans of XRP was cause for concern. Judging by the growth Aldona over the last couple of weeks, it also is a deterrent to further rise in price of the coin.
Note that on the eve of the cryptocurrency remembered co-founder of the exchange BitMEX, Arthur Hayes. He asked his subscribers what they would do in the case of growth XRP above $ 3 dollars. Obviously, this question is not binding, but merely adds intensity to the atmosphere soon bullrun that hovers in the air. Here is his tweet.
If CRipple ever gets above $3 again what will you do? pic.twitter.com/lrfpXofqz2
— Arthur Hayes (@CryptoHayes) August 3, 2020
We believe that McCaleb operates correctly: he had no reason to bring down the rate or inhibit its growth, because in this case he will not be able to profitably sell their assets. So jed is very cautious and gets rid of share wealth gradually. But with criticism he clearly will have to accept: everything investors love to blame the failures of other people, and McCaleb with his billions of XRP is best suited for the role of a man who allegedly manipulating the rate of Ripple. Although judging by the statements of analysts, it is not so.
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