Stellar CEO and Ripple co-founder Jed McCaleb Sells off His XRP

[Miaallen]

The CEO of Stellar coin who happens to be a Co-founder of XRP Jed McCaleb is reported to have sold some XRP coin belonging to him to the tune of $411million in 2020. He must must have sold the coin before the start of the Impending litigation against the XRP.

What does this mean to the old investors who are still holding the coin and the new ones just adopting it in this time. Could Jed McCaleb selling off his or parts of his XRP mean that XRP is near its death with the ongoing litigation?

[bakasabo]

Ripple holders and low price buyers must be thankful that this does not reflects on the price so far. Or at least it reflect neutral, instead of a much severe collapse.
What we see now is that Ripple is already on a top5 position according to volume. Previous week I've seen a $18 billion trading volume and now it has declined two times. Cardano and Polkadot are close. If this continues in a negative aspect (and it will, as yesterday there was a new $200 million claim from Tetragon Financial Group against Ripple), Ripple will be kicked out from top10. This is a great example to show to those who "suggest altcoin only from the top".

[larus]

Only one lawsuit from SEC could dump any coin, sounds not so good for the independent decentralized industry

[mu_enrico]

He dumped XRP multiple times this year, and I think it's not merely because of the lawsuit. He thought that XRP is just not the coin that he is willing to hold for whatever reasons. It should signal a downtrend to the market.

Anyway, we may see more CEOs/founders of some coins start to dump their bags in this pump, not just XRP.

[Review Master]

XRP is near its death with the ongoing litigation?

I don't think so and from the last announcement, Ripple clearly mentioned that most of the users are from outside of USA, also they're going to take proper steps for this lawsuit. Maybe, it's just a bad time for xrp while everyone enjoying bull market, imo. BTW, a new lawsuit from one of the Ripple's investor was submitted, but ripple said, that investor just want to take advantage of current situation.
More details: https://www.theblockcrypto.com/post/90135/ripple-series-c-lead-investor-tetragon-sues-the-company

[tvplus006]

The CEO of Stellar coin who happens to be a Co-founder of XRP Jed McCaleb is reported to have sold some XRP coin belonging to him to the tune of $411million in 2020. He must must have sold the coin before the start of the Impending litigation against the XRP.

What does this mean to the old investors who are still holding the coin and the new ones just adopting it in this time. Could Jed McCaleb selling off his or parts of his XRP mean that XRP is near its death with the ongoing litigation?

The price of Stellar has increased by more than 50% in recent days, which was caused by the fact that "Ukraine Government Picks Stellar Development Foundation to Help Build National Digital Currency": https://finance.yahoo.com/news/ukraine-government-picks-stellar-help-140028973.html The sale of XRP looks like Jed McCaleb wants to distance himself from the problems that Ripple has had in connection with the SEC filing a lawsuit against them.

[DeathAngel]

XLM up over 100% in the last 24 hours, I had a load at one point but converted them all into bitcoin when stellar went to £0.15. Obviously bitcoin has gone up massively so I’ve still made great profit but frustrating to see XLM rise so high (with even more room for up).

[casperBGD]

~snip
The sale of XRP looks like Jed McCaleb wants to distance himself from the problems that Ripple has had in connection with the SEC filing a lawsuit against them.

this is one way to look at things, but there is also a fact that he sold his holdings just before SEC published the lawsuit public, so it is possible that he had some inside info regarding the lawsuit, and that lawsuit will be made public, that is inside trading, and strictly prohibited in regulated markets, hopefully SEC or someone will investigate his token sale based on inside trading, since the timing is unusual for sure