The spot market is seeing positive momentum from community members, although market regulators in the United States have not yet decided on the fate of XRP. Last week, XRP price rise 60% from $ 0.4079 to $ 0.6553. This rise in price pushed the cryptocurrency up one place on the CoinMarketCap list, with a market value of $ 27.8 billion.



Is Jed McCaleb preparing for a big XRP sale?

Meanwhile, there are reports that Ripple co-founder Jed McCaleb may be ready to sell more XRP in the market.

According to XRP researcher Leonidas Hadjiloizou, the co-founder will sell 38,345,406.53 XRP in 1 day this week. Hadjiloizou said:

With the price currently remaining high in the market, the selling could cause the bearish scenario to break the positive momentum in the XRP market. On February 11, Jed McCaleb moved about 40 million XRP from its “tacostand” wallet. Users in the community are not happy to see the co-founder sell its XRP, but according to the contract with Ripple, McCaleb has around 500 million XRP left to sell.


McCaleb not mentioned in SEC case

However, Hadjiloizou had previously stated that since the SEC began tracking the situation of XRP in the United States, McCaleb stopped selling its XRP. Although McCaleb is the co-founder of Ripple, he is not involved in the SEC case, in which Brad Garlinghouse and Chris Larsen were also charged for the sale of unregistered securities.

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If McCaleb continues to sell XRP in the market as predicted by the researcher, we can see prices drop. XRP charts suggest that it does not have any real volume that could be caused by inorganic swelling that previously appeared in the market. Times may be getting harder for XRP as a digital asset, but the community remains optimistic about the future of cryptocurrency.


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