The #RelistXRP hashtag we reported yesterday continues to show itself. Following an exploratory hearing in the US Securities and Exchange Commission’s (SEC) case against Ripple last Friday that created two surprising developments in favor of Ripple, the XRP community hopes that the token could once again be listed on worldwide exchanges (for its customers in the United States).
A SEC lawyer stated at the hearing that “only Ripple and Ripple’s affiliates” could illegally sell XRP. Attorney Jeremy Hogan analyzed that exchanges that derecognised XRP two months ago had not violated securities laws and would not have violated it if they put XRP back on sale. The lawyer also stated that the SEC may have received a number of requests for clarification from exchanges.
Since the trial, the SEC has not yet commented on the issue, but #relistXRP on Twitter is generating great movement. After the hashtag “trended” in Australia on Saturday, the XRP community managed to do the same in the US yesterday.
In addition, according to data from XRPscan, Ripple’s co-founder Jed McCaleb, which has been hit by the SEC in the last sixteen days, has moved over 222 million XRP tokens for sale.
Jed McCaleb continues to sell his XRPs and sends money from his “takostand” wallet to digital exchanges to convert them into fiat currency. Over the past two weeks, it has moved 222,600,000 XRP, equivalent to $ 115,633,766, according to XRPscan. McCaleb left Ripple Labs, which he founded with Chris Larsen in 2013, and created a rival Stellar platform with the local coin XLM. Since then, he has been receiving substantial compensation in XRP for his help in founding the company. Jed is being paid piece by piece to sell all of several billion XRP and keep it from dropping the price.
McCaleb’s regular XRP sales do not seem to have any effect on the XRP price. At the time of writing, the remaining balance in the “tacostand” wallet is a total of 383,092,083 XRP. The XRP community believes McCaleb should sell all of its XRP, which is currently under 3 billion and moved to “tacostand” in chunks when it wants to sell by the end of this year.