Founder of Ripple is announcing he is dumping his XRP. Ripple crashes 35% and st

[CoinMKT.com]

Founder of Ripple is announcing he is dumping his XRP. Ripple crashes 35% and still falling.

https://xrptalk.org/topic/2629-selling-my-xrp/

Very interesting stuff going on here.  This isn't good for XRP, RL, but also Jed.  Since JEd pulled a move on a company he owns stake in, wha investors will invest in Jed?  How will he guarantee that he won't pull the rug underneath them too?    So much money invested and pumped into RL.   

I'm sure theres drama and I dont know the extent of it, however this kind of an exit is just implosion for everyone.

Food for thought.

[haploid23]

In case anyone is too lazy to click the link:

I plan to start selling all of my remaining XRP beginning in two weeks. Because I have immense respect for the community members and want to be transparent, I’m publicly announcing this before I start. So just fyi…. xrp sales incoming.
Thanks,
Jed.

You know what would be hilarious? This announcement caused people to dump their XRP, then Jed just buys them all up for cheaper, without dumping a single of his own XRP 

[DeathAndTaxes]

If true then that is just insane.  Ripple is so heavily "premined" that the 9B XRP he controls is more than the entire float combined.   It would be like suddenly someone has an extra 13M BTC to sell.

[CoinMKT.com]

If true then that is just insane.  Ripple is so heavily "premined" that the 9B XRP he controls is more than the entire float combined.   It would be like suddenly someone has an extra 13M BTC to sell.

Exactly, have no clue what is exactly going on...   popcorn time it seems.

[DobZombie]

Anyone want to buy my 30,000 xrp?

[crazy_rabbit]

In case anyone is too lazy to click the link:

I plan to start selling all of my remaining XRP beginning in two weeks. Because I have immense respect for the community members and want to be transparent, I’m publicly announcing this before I start. So just fyi…. xrp sales incoming.
Thanks,
Jed.

You know what would be hilarious? This announcement caused people to dump their XRP, then Jed just buys them all up for cheaper, without dumping a single of his own XRP  

Yeah, except with 9 billion already, which is already larger then the whole market, there's no point in buying back. The market is so thin, what would be the point? More coins? 20billion? Why have more coins after you destroy the market and possibly set the whole project back?

Something else is going on, who knows what.....but it's good time to get bitcoin if thats his plan.

[Pushtheghost]

Markets should be interesting,

[DeathAndTaxes]

So it certainly looks like it is real.  He announced he would send 1 XRP to a member of the forum and then a tx was made from an address which contains 1.9 billion XRP.   I have nothing at stake so do your own research but certainly seems more plausible.

[haploid23]

Exactly, have no clue what is exactly going on...   popcorn time it seems.

He finally came to the realization that ripple can't compete with bitcoin and the large sea of other crypto.

If you can't beat them, join them.

[ElectricMucus]

Anyone want to buy my 30,000 xrp?

Do you accept i0coin?

[BittBurger]

HODL RIPPLE!!!!!!!!!!!!!

kidding.   But im about to lose my investment now.

Yesterday you could buy 1 million ripple for $6,000 USD.

Now you can buy 1 million ripple for $2,000 USD.

[Peter R]

If Ripple Labs holds 80% of the XRP off market, are those still valid tokens?  I mean, since Jed could likely single-handedly destroy the entire bid side of the order books, could Ripple Labs pre-emptively start dumping their mega-hoard before it's all over?  

Also, isn't this scenario fairly likely to eventually play out in all pre-mined/insta-mined coins?

[DeathAndTaxes]

If Ripple Labs holds 80% of the XRP off market, are those still valid tokens?  I mean, since Jed could likely single-handedly destroy the entire bid side of the order books, could Ripple Labs pre-emptively start dumping their mega-hoard before it's all over?  

Also, isn't this scenario fairly likely to eventually play out in all pre-mined/insta-mined coins?

They are valid XRPs.  There are ~8B openly traded,  RL has ~72B left, Jed has ~9B (minus unknown amount donated), the other two founders have 11B combined.  They could sell them at any time but don't worry they promise not to and what is better than a decentralized currency based around absolute trust that a for profit entity won't do anything bad.  I don't think RL will sell because they drink their own kool-aid.

[ElectricMucus]

It's stupid that I am the first to bring that up but here it is.

JED probably cares enough about his own money that he won't exhaust the order-book with his sales but essentially do it automated based on liquidity. Essentially, in his case prolonging the process of cashing out over his whole expected lifetime.

[DeathAndTaxes]

It's stupid that I am the first to bring that up but here it is.

JED probably cares enough about his own money that he won't exhaust the order-book with his sales but essentially do it automated based on liquidity. Essentially, in his case prolonging the process of cashing out over his whole expected lifetime.

If he cared solely about his own money, the way to make the most would be to not tell people in advance.

[bittydude]

ORRRR it could be a complete FUDFEST to get it to drop, buy more and thennn dump. If there are large investors these might be the strings being pulled behind the scenes.

[ElectricMucus]

It's stupid that I am the first to bring that up but here it is.

JED probably cares enough about his own money that he won't exhaust the order-book with his sales but essentially do it automated based on liquidity. Essentially, in his case prolonging the process of cashing out over his whole expected lifetime.

If he cared solely about his own money, the way to make the most would be to not tell people in advance.

Of course, what I think is that he cares at all.

[beetcoin]

In case anyone is too lazy to click the link:

I plan to start selling all of my remaining XRP beginning in two weeks. Because I have immense respect for the community members and want to be transparent, I’m publicly announcing this before I start. So just fyi…. xrp sales incoming.
Thanks,
Jed.

You know what would be hilarious? This announcement caused people to dump their XRP, then Jed just buys them all up for cheaper, without dumping a single of his own XRP  

i think if that were true, it would sully his name and his brand.. so i'd like to see him try it. imo im not sure if i would announce something like that; what if he has to change his mind for some legitimate reason? if there were a reason to change his mind, he'd be in a no-win situation. either sell off your coins when you think it's not lucrative to do so, or hold onto your coins and face the wrath of the public.

It's stupid that I am the first to bring that up but here it is.

JED probably cares enough about his own money that he won't exhaust the order-book with his sales but essentially do it automated based on liquidity. Essentially, in his case prolonging the process of cashing out over his whole expected lifetime.

If he cared solely about his own money, the way to make the most would be to not tell people in advance.

wouldn't he draw criticism for dumping all, if not most, of his holdings?

[Peter R]

It's stupid that I am the first to bring that up but here it is.

JED probably cares enough about his own money that he won't exhaust the order-book with his sales but essentially do it automated based on liquidity. Essentially, in his case prolonging the process of cashing out over his whole expected lifetime.

If he cared solely about his own money, the way to make the most would be to not tell people in advance.

Yes, exactly.  There is more going on here than we are privy to. 

And, no, this isn't FUD to get the price to drop to buy "cheap coins."  Approximately 80% of the coins are owned by Ripple Labs, and another 9% or so by Jed.  The entire premise that XRPs were a store of value was flawed, even if you believe the ripple concept is useful as a global hawala network. 

[ElectricMucus]

Yeah I know you basically hate it.

Just stating the obvious.