bitcoin
Bitcoin (BTC) $ 63,879.12
ethereum
Ethereum (ETH) $ 3,054.98
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 556.89
xrp
XRP (XRP) $ 0.506073
cardano
Cardano (ADA) $ 0.477857
usd-coin
USDC (USDC) $ 0.99946
matic-network
Polygon (MATIC) $ 0.677016
binance-usd
BUSD (BUSD) $ 0.999365
dogecoin
Dogecoin (DOGE) $ 0.155626
okb
OKB (OKB) $ 54.95
polkadot
Polkadot (DOT) $ 6.73
shiba-inu
Shiba Inu (SHIB) $ 0.000023
tron
TRON (TRX) $ 0.110338
uniswap
Uniswap (UNI) $ 7.57
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 63,843.11
dai
Dai (DAI) $ 1.00
litecoin
Litecoin (LTC) $ 81.40
staked-ether
Lido Staked Ether (STETH) $ 3,052.32
solana
Solana (SOL) $ 142.79
avalanche-2
Avalanche (AVAX) $ 34.96
chainlink
Chainlink (LINK) $ 14.00
cosmos
Cosmos Hub (ATOM) $ 8.22
the-open-network
Toncoin (TON) $ 6.07
ethereum-classic
Ethereum Classic (ETC) $ 26.24
leo-token
LEO Token (LEO) $ 5.80
filecoin
Filecoin (FIL) $ 6.21
bitcoin-cash
Bitcoin Cash (BCH) $ 476.09
monero
Monero (XMR) $ 117.19
bitcoin
Bitcoin (BTC) $ 63,879.12
ethereum
Ethereum (ETH) $ 3,054.98
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 556.89
usd-coin
USDC (USDC) $ 0.99946
xrp
XRP (XRP) $ 0.506073
binance-usd
BUSD (BUSD) $ 0.999365
dogecoin
Dogecoin (DOGE) $ 0.155626
cardano
Cardano (ADA) $ 0.477857
solana
Solana (SOL) $ 142.79
matic-network
Polygon (MATIC) $ 0.677016
polkadot
Polkadot (DOT) $ 6.73
tron
TRON (TRX) $ 0.110338

Professional Warns of Potential for Extra Main XRP Holders Like Jed McCaleb

Must Read

Legislation knowledgeable Fred Rispoli has warned that there may very well be extra massive XRP holders like former Ripple CTO Jed McCaleb who can additional suppress the worth of XRP.

The long-standing case between Ripple and the USA Securities and Change Fee (SEC) took a recent flip this week. The regulator seeks to impose a $2 billion superb on the San Francisco-based firm for promoting XRP to institutional buyers early within the challenge’s historical past.

Whereas that matter stays up for debate, the group has been reflecting on the results of Ripple’s early XRP gross sales to institutional patrons. Exactly, some cause there may very well be extra massive XRP holders on the market who may very well be suppressing the worth of the cryptocurrency as former Ripple CTO Jed McCaleb did for a number of years.

Recall that Jed McCaleb, one in all Ripple’s early cohort of programmers, obtained 9 billion XRP as a co-founder. After parting methods with the corporate, Jed McCaleb continued to regularly promote his massive XRP holdings via his pockets, which had the notorious title “Taco Stand.”

As reported by The Crypto Fundamental at the moment, Jed McCaleb realized $3.1 billion from the sale. It took eight years, and the fixed gross sales, although systematic, contributed to promoting strain.

Are There Extra Jed McCaleb Left?

Reflecting on the Jed McCaleb expertise, legislation knowledgeable Fred Rispoli lately floated the concept there may very well be extra of his variety left within the XRP investor group.

Such entities would have acquired XRP from Ripple early in its improvement and would nonetheless be hoarding 100s of thousands and thousands of the cryptocurrency acquired at a doable value of $0.0001.

See also  Pyth Community’s complete staked worth surpasses $1.3 billion

He added that these entities will understandably “promote regularly over time to not suppress the retail value an excessive amount of.”

Precisely. If I had a 100s of thousands and thousands of XRP that I purchased at $0.0001, I’d promote regularly over time to not suppress the retail value an excessive amount of. Primarily there are extra Jed McCaleb Taco Stands on the market than we notice.

— Fred Rispoli (@freddyriz) March 26, 2024

An XRP fanatic joined the dialog with the suggestion that the worth of XRP could also be a lot greater if the establishments had not gotten the coin at a steep low cost.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles

How Are Whales Reacting to the Upcoming Occasion?

Because the Bitcoin (BTC) neighborhood anticipates the upcoming halving occasion, cryptocurrency whale conduct – buyers holding giant quantities of...

More Articles Like This