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XRP Whales Continue to Buy the Fear of Retailers

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ReportedlyJed McCaleb, former CTO and co-founder of payment network Ripple (XRP) and current CEO of Stellar (XLM), sold nearly 275 million XRP since early May as part of his daily “dumping.”

He has been moving tokens out of his “Tacostand” wallet to sell them.

McCaleb has received more than 442 million XRP from Ripple on May 2, 2021. Since then McCaleb executed seven outgoing transactions worth 17,301,056 XRP, followed by seven of 13,398,341 XRP, and further six transfers of 10,008,592 XRP. Thus, he has sold 274,947,331 XRP—worth at least $310 million at current prices—during this time.

This is not the first time.  His previous sales pattern were in similar batches.

XRP ROI Musings:

The XRP Whales continue to buy the fear of retailers.  The ratio of selling 1 BTC into XRP is still the same as a week and a month ago. It’s still around 41.000 XRP. Everything is fine, even when we go down more, the moment XRP settles with the SEC it will be the only crypto going up.

Guys that sold XRP at $1.90 are rejoicing; however, some say, this doesn’t change anything about the big timeframe so far as they believe that more gains are coming. XRP tests your patience here and whales want you out of this market, so they can buy your coins cheaply before sending it way higher.

Some of them are like:  Are we now in bear market?  If you are selling XRP at 0.90$ send me your picture –will create photo album and turn it into NFT.   There are others who are continuing to check the XRP price every couple hours and they continue to HODL.

Do you think there is still a chance of settlement this week, or are we pushing for September +? No settlement this week as Jeremy Hogan stated that August is the timeline for summary judgment on the fair notice defense “might” be the soonest.

When someone asked:  What did you mean by “XRP’s status would not” and that no one can be sued again on this issue. Would that mean that Ripple can’t be sued up to now but XRP can be considered a security as long as there is fair notice AFTER?

Jeremy Hogan responded:  Well, if the Court rules Ripple had no Fair Notice, then the exchanges, companies, people, would also not have had Fair Notice. It would effectively put XRP in the clear of enforcement actions by the SEC.