XRP's Former Founder Dumped 1.8 MILLION A DAY In April!
XRP, one of the premier shitcoins of the ’17 bullrun that has since performed miserably the last two years, entered the news recently but not for good reasons.
As reported on the Crypto Associate, Ripple’s co-founder Jed McCaleb (also fouder of his own spinoff version XLM Stellar, another ‘finance’ shitcoin) gets a nice pension everymonth. Millions of XRP in fact. Jed McCaleb had so much fucking XRP, actually, that his estimated worth on XRP alone was over $1 billion dollars. All because he
Let’s just take stock right quick.
- He was the CTO of Ripple, founded the tech and later left.
- He founded Mt. Gox, which he later sold (and then it got hacked and continues to crash the price of Bitcoin to this day).
- He was awarded with 5.3 billion XRP after winning a lawsuit against his former company.
- He founded his own coin XLM which does the same thing as XRP, mainly, allows him the opportunity to print his own money once again and drench it in techno-babble speak (dur cross border payments).
This guy is a grade-A shark and wolf. And maybe he’s made you a hell of a lot of money. But maybe he’s also fucked you royally. At any rate there is one indisputable fact: he continues to make shit tons of money for himself.
In the month of April alone, this guy sold 1.8 million XRP a DAY. So around $400,000 a day. With thirty days in April, he made $12 million right there.
Is that enough to keep XRP’s price down? That’s one of the biggest questions. Ripple fanboys will tell you that it’s a drop in the bucket. He has 76 million more XRP in his wallet. So I’d say that’s a large drop of water. https://bithomp.com/explorer/rEhKZcz5Ndjm9BzZmmKrtvhXPnSWByssDv
Did I mention that he also gets MORE XRP every month?
1.8 million a day in selling pressure? That’s a hell of a lot of pressure.
For me, this is why there is so little movement in XRP’s price. And why I’d stay the hell away from buying anymore XRP.