Following the lawsuit from SEC, ex Ripple CTO dumps 28.6M XRP

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For the first occasion after the SEC made a formal complaint against Ripple and two of its employees, Jed McCaleb, ex CTO of Ripple, dumped another 28.6 million XRP. In  2013, McCaleb’s settlement arrangement with Ripple offered him 9 billion XRP in batches to keep him from throwing his full portion of settlement tokens on the sector. It is well known that the ex CTO dumps a portion of his XRP stockpile from time to time. The lengthy period of 25 days between his last two dumps, though, can be considered as a consequence of the litigation. 

A cryptocurrency data researcher, Leonidas Hadjiloizou, disclosed that McCaleb traded an XRP token valued $8.8 million on January 18 for $0.30 per each.

The observer recalled that when the prior CTO took such a sudden break, it was not the first case, but on previous time, the primary explanation for the break was his charitable work, the break enabled the charity he contributed to market the XRP. He clarified,

Jed had paused his sales in the past, to allow a charity he had donated XRP to sell. This time, however, he paused his sales right after the lawsuit. There is no way to know why he resumed. He could have waited for some advice from his lawyers or a million other reasons.

XRP increases by 10 percent as Delisting Woes Persists 

At time of writing, XRP was valued at $0.304 and has increased in the aftermath of the altcoin boom by upwards of 10 percent over the previous 24 hoursAlthough XRP tried to increase over $0.30 after the litigation, led more by the US-based cryptocurrency exchanges, its lengthy 3rd spot has been replaced by Tether and then Polkadot surpassed it for the fourth slot.

Source: TradingView

Although at least until the litigation completes, the prospect of XRP in the US looks bleak, the token will look at its opportunity outside the US for surviving, particularly the Asia Pacific area.

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