Former Ripple CTO Jed McCaleb Says He Wants To Keep His Remaining 5M XRP
Jed McCaleb recently announced that he is backtracking from his decision on selling the last of his nearly 5Million XRP holdings.
Former Chief Technology Officer and co-founder at Ripple, Jed McCaleb recently stated on Friday that he his reverting his decision on selling the last of his leftover 5Million XRP holdings. As for why he decided to take this immediate decision, McCaleb stated that he wishes to keep the holdings in the case of it rallying in the coming times.
Furthermore, McCaleb reasoned that it would be unwise to sell all the leftover holdings and if there is a possibility that the token manages to reach a price valuation of more than $580, it could make him rich. McCaleb was unsure about inflation rates and gas prices and felt that keeping the leftover XRP holdings would eventually lead to a much higher level of security, not only for himself, but also his family.
After departing his position at Ripple, Jed McCaleb has been actively selling his XRP holdings and as per the records, he has managed to trade XRP holdings in the millions. According to statistical real time data taken from Jed’s tacostand’s very recent post on social media platform twitter, Jed McCaleb is currently left with around 4.2Million XRP.
Predictions on Future Rally
McCaleb’s decision to stash his XRP holdings will either be a very smart decision, or it will cost him. According to an analytics company named Santiment, there was a massive increase in the trading volume of XRP, managing to score around $18.7Billion at the end of yesterday, so the asset has managed to strike the eyes of many watching. Santiment’s data indicated quite an abnormal activity level for the asset this week.
Ripple and SEC Lawsuit Progress
The SEC and Ripple Lawsuit still hasn’t reached a conclusion. Lawyer James K. Filan shared some information in the form of a transcript on the 15th in conjunction with the hearing before Magistrate Judge Netburn. Attorney Jeremy Hogan highlighted one of the key statements in the transcript which said that the main reason for giving out the William Hinman speech back in 2018 “was to provide guidance to the market”, to which he said that the SEC hasn’t been able to do anything about it.
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