Cryptocurrency

Ripples XRP: whale moved 31 million XRP to Bitstamp is dumping the Coin again?

A Tweet from the Whale Alert, according to 31.300.000 XRP-Token from an unknown Wallet were sent to the Bitstamp Exchange. The Wallet has sold in the past, millions of these tokens, which come from a well-known Ripple-Wallet.

Will tolerate the Ripple Community the Dumping?

In spite of the disagreements with the XRP Community, it seems that Ripple to take advantage of the recent rise in XRP prices, and the sale of the Tokens could resume. Members of the Ripple Community had threatened in the past year, therefore, with a Fork.

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Ripple has achieved in the year 2018 533,7 million dollars from the sale of XRP-Token. Ripple CEO, Brad garlinghouse had to deal later with the Problem and the disgruntled XRP community to calm down.
Since then, Ripple-investors have started even a Petition to prevent the company to flood the market with XRP. If we look at the tweets of Whale Alert, we see some interesting patterns.
The XRP address in the Tweet is: rKUy1Ew9VrA8YNm5ArgKup2E6iAwE1iMyc
This address has sent 31.300.000 XRP in the value of almost 8.5 million dollars in the stock exchange from Bitstamp. On 28.1.19 the same address 463.420.929 got 99 tokens of Ripple.
With more than ten occasions, this Wallet has made in the last two years of similar sales of Ripples XRP in the value of several million. Judging from this Evidence, it seems that this Wallet is controlled either directly by Ripple or from a company that Ripple very close.

And then there’s Jed McCaleb

Jed McCaleb was a co-founder and CTO of Ripple Labs to 2013 when he left the company to found Stellar. McCaleb left Ripple due to a difference of opinion with the investors, received as a founder, however 9.5 billion XRP.
At the beginning of the month, according to Reports, 19 million tokens in McCalebs wallet moved. Overall, the co-founder between 2014 and 2019, more than 1 billion XRP has been sold-Token.
There were fears that McCaleb would repel after his departure from Ripple, in the year 2014 XRP. As a result, he was forced, in the framework of the negotiations, a Lockup agreement to sign.

It seems that McCaleb has unlocked the possibility of selling a billion in accordance with the terms of the lock-up agreement “”. Chris Larsen, another co-founder of Ripple, has also received a founder’s reward of $ 9.5 billion XRP and the company Ripple has received 80 billion tokens.
The Dumpump can go on. Ripple CEO, Brad garlinghouse, said recently, Ripple attempts to be the Amazon of crypto-industry – so it probably needs more capital to expand the business, not to mention the strategic partnerships on the transfer markets.

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

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