• About
  • Contact
  • Privacy Policy
  • bitcoinBitcoin$27,596.001.05%
  • ethereumEthereum$1,642.29-0.44%
  • xrpXRP$0.544.77%
  • bitcoin cashBitcoin Cash$228.26-1.45%
Cryptovibes.com - Daily Cryptocurrency and FX News
  • Home
    • Cryptovibes French
    • Cryptovibes German
    • Cryptovibes Croatian
    • Cryptovibes Czech
    • Cryptovibes Korean
    • Cryptovibes Danish
    • Cryptovibes Dutch
    • Cryptovibes Finnish
    • Cryptovibes Hungarian
    • Cryptovibes Italian
    • Cryptovibes Japanese
    • Cryptovibes Norwegian
    • Cryptovibes Polish
    • Cryptovibes Portuguese
    • Cryptovibes Romanian
    • Cryptovibes Slovak
    • Cryptovibes Spanish
    • Cryptovibes Swedish
    • Cryptovibes Turkish
  • News
    • PR
  • Analysis
  • Crypto
    • Crypto Presales
    • Bitcoin Minetrix Price Prediction
  • Autotrading
    • Immediate Connect
    • Quantum Flash
    • Bitsoft360
    • Bitcoin360 AI
    • Immediate Edge
    • Bitcoin Code
    • BitAlpha AI
    • Bitcoineer
    • Immediate Experience
    • Quantum AI
    • Bit GPT AI
    • Immediate Bitcoin
    • Vena System
    • Immediate Profit
    • Immediate GP
    • Bitcoin Fast Profit
    • Ethereum Code
    • Immediate Granimator
    • Quantum Prime Profit
    • BitVestment
    • BitIQ
    • BitProfit
    • Bitcoin Edge
    • Bit Index AI
    • Immediate Iplex
    • Yuan Pay Group
    • Metaverse Profit
    • Today Profit
    • Bitcoin Buyer
    • AI Trading Bots
    • Quantum Code
    • Bitcoin Billionaire
    • Bitcoin Circuit
    • Bitcode Prime
    • Bitprime Gold
    • Bitcoin Motion
    • BitAI Method
    • Bitcoin Bank Breaker
    • Bitcoin Smarter
    • Bitcoin Robot Guide
    • Bitcoin Oracle AI
    • Bitcoin Future
    • Bitcoin Millionaire Pro
    • BitiCodes
    • Crypto Bank
    • Bitcoin Loophole
    • Bitcoin Storm
    • Bitcoin SuperSplit
    • Bitcoin Supreme
    • TeslaCoin
    • Bitcoin System
    • Bitcoin Fortress
    • Bitcoin Profit
    • BitQH
    • Quantumator
    • Bitcoin Trader
    • xBitcoin Club
    • Bitcoin Bank
    • Quantum Hancock
    • Chain Reaction
    • Bitcoin Union
    • Crypto Capital
    • CoinTrade1000
    • BitQT
    • Quantum System
    • Libra Profit System
    • Bitcoin Sprint
    • Bitcoin KPEX AI
    • Bitcode Method
    • Bitcoin Millionaire
    • Immediate Fortune
    • Bit Iplex Codes
    • Bitcoin Revolution
    • Bitcoin Method
    • Profit Compass
    • Bitcoin Champion
    • Bitcoin Optimizer
    • Bitcoin Rush
    • NFT Profit
    • Bitcoin Decoder
    • PBN Invest
    • Celebrities
      • Teeka Tiwari Investment plan
      • Kate Winslet Bitcoin
      • Holly Willoughby Bitcoin
      • Ant McPartlin Bitcoin
      • Nicole Kidman Bitcoin
      • James McAvoy Bitcoin
      • Jim Davidson Bitcoin
      • Peter Lim Bitcoin
      • Jonathan Ross Bitcoin
      • Bear Grylls Bitcoin
      • Phillip Schofield Bitcoin
      • Mike Hosking Bitcoin
      • Ryan Reynolds Bitcoin
      • Dick Smith Bitcoin
    • Broker Reviews
      • Herdos Review
      • FXTB Review
  • Disclaimer
No Result
View All Result
Cryptovibes.com - Daily Cryptocurrency and FX News
No Result
View All Result

Ripple’s Loses Its Value amid Speculation That Co-Founder Selling

Sherlock Gomes by Sherlock Gomes
August 24, 2019
in Crypto news
Reading Time: 4min read
Rate this post

The world’s third-largest digital currency, Ripple’s XRP, is losing value even as other currencies in the global top 10 are reporting astonishing gains.

Ripple’s fall raises eyebrows

In the 2018 crypto winter, every digital coin was posting unprecedented losses, and the likes of Bitcoin shaved off over 2/3rd of its market value. However, there is a more positive sentiment in the market this year, and all but one of the top 10 digital currencies have posted significant gains. The only black sheep in this mix is XRP, a coin that has lost 20% of its value. It continues to be the third-largest digital currency even after losing $3 billion from its market cap.

Ripple’s Loses Its Value amid Speculation That Co-Founder Selling

Some investors believe that the loss of market cap can be blamed on Ripple, a San Francisco based firm. Ripple, which developed XRP as part of its RippleNet decentralized ledger, has tried hard over the past year to create a distinction between the company and the coin. However, Coin Metrics suggests that the firm, along with its founders, controls about 75% of XRP tokens. This gives them undue power and advantage to manipulate the price of the coin.

The data researchers highlighted that Ripple co-founder Jed McCaleb, who is not working at the company anymore, is selling 500,000 XRP every day. He is not alone. The company is quickly dumping XRP in the market, leading to a price fall.

The headwinds at Ripple

According to Multicoin Capital co-founder Kyle Samani, “The Company has been steadily increasing its sales of XRP over the previous three quarters, likely inflicting downward price pressure on XRP. Savvy investors have known this for some time; however, for whatever reason, the market is just now picking up the narrative and reacting.” The hedge fund founder is shorting XRP.

As the news of the “dump” is spreading, someone thought it made sense to create a petition to stop the Ripple sale on Change.org. Over 2,100 people have already signed this petition. However, Ripple refuses to admit that they have increased XRP sales. The company in its defense stated that the sales are tied to trading volumes on different exchanges. It noted that the company has “substantially reduced XRP sales” and that exchanges are deliberately misreporting their trading volumes. It also said that Coin Metrics found data discrepancies because of a timeline issue.

The company then went on to tout its focus on transparency and said that it releases quarterly reports too, which is uncommon in the crypto industry.

Tags: Jed McCalebKyle SamaniRippleSpeculationXRP

Related Posts

Former Ripple CTO Jed McCaleb Emptied XPR Account Selling 5.7B XRP Worth $3.1B In 8 Years
Crypto news

Former Ripple CTO Jed McCaleb Emptied XPR Account Selling 5.7B XRP Worth $3.1B In 8 Years

July 18, 2022
Only Whales Move DOGE, Will It Result In An XRP-Style Crash?
Analysis

Only Whales Move DOGE, Will It Result In An XRP-Style Crash?

May 5, 2021
Ripple Finds A New Home In Crypto-Friendly Wyoming
News

Ripple Finds A New Home In Crypto-Friendly Wyoming

February 22, 2021
Facebook Twitter Instagram Telegram RSS Youtube

Newsletter

Like what you're reading? Subscribe to our top stories

Copyright © 2017-2019 Cryptovibes.com. Price data provided by our official partner CoinGecko.

No Result
View All Result
  • Home
    • Cryptovibes French
    • Cryptovibes German
    • Cryptovibes Croatian
    • Cryptovibes Czech
    • Cryptovibes Korean
    • Cryptovibes Danish
    • Cryptovibes Dutch
    • Cryptovibes Finnish
    • Cryptovibes Hungarian
    • Cryptovibes Italian
    • Cryptovibes Japanese
    • Cryptovibes Norwegian
    • Cryptovibes Polish
    • Cryptovibes Portuguese
    • Cryptovibes Romanian
    • Cryptovibes Slovak
    • Cryptovibes Spanish
    • Cryptovibes Swedish
    • Cryptovibes Turkish
  • News
    • PR
  • Analysis
  • Crypto
    • Crypto Presales
    • Bitcoin Minetrix Price Prediction
  • Autotrading
    • Immediate Connect
    • Quantum Flash
    • Bitsoft360
    • Bitcoin360 AI
    • Immediate Edge
    • Bitcoin Code
    • BitAlpha AI
    • Bitcoineer
    • Immediate Experience
    • Quantum AI
    • Bit GPT AI
    • Immediate Bitcoin
    • Vena System
    • Immediate Profit
    • Immediate GP
    • Bitcoin Fast Profit
    • Ethereum Code
    • Immediate Granimator
    • Quantum Prime Profit
    • BitVestment
    • BitIQ
    • BitProfit
    • Bitcoin Edge
    • Bit Index AI
    • Immediate Iplex
    • Yuan Pay Group
    • Metaverse Profit
    • Today Profit
    • Bitcoin Buyer
    • AI Trading Bots
    • Quantum Code
    • Bitcoin Billionaire
    • Bitcoin Circuit
    • Bitcode Prime
    • Bitprime Gold
    • Bitcoin Motion
    • BitAI Method
    • Bitcoin Bank Breaker
    • Bitcoin Smarter
    • Bitcoin Robot Guide
    • Bitcoin Oracle AI
    • Bitcoin Future
    • Bitcoin Millionaire Pro
    • BitiCodes
    • Crypto Bank
    • Bitcoin Loophole
    • Bitcoin Storm
    • Bitcoin SuperSplit
    • Bitcoin Supreme
    • TeslaCoin
    • Bitcoin System
    • Bitcoin Fortress
    • Bitcoin Profit
    • BitQH
    • Quantumator
    • Bitcoin Trader
    • xBitcoin Club
    • Bitcoin Bank
    • Quantum Hancock
    • Chain Reaction
    • Bitcoin Union
    • Crypto Capital
    • CoinTrade1000
    • BitQT
    • Quantum System
    • Libra Profit System
    • Bitcoin Sprint
    • Bitcoin KPEX AI
    • Bitcode Method
    • Bitcoin Millionaire
    • Immediate Fortune
    • Bit Iplex Codes
    • Bitcoin Revolution
    • Bitcoin Method
    • Profit Compass
    • Bitcoin Champion
    • Bitcoin Optimizer
    • Bitcoin Rush
    • NFT Profit
    • Bitcoin Decoder
    • PBN Invest
    • Celebrities
      • Teeka Tiwari Investment plan
      • Kate Winslet Bitcoin
      • Holly Willoughby Bitcoin
      • Ant McPartlin Bitcoin
      • Nicole Kidman Bitcoin
      • James McAvoy Bitcoin
      • Jim Davidson Bitcoin
      • Peter Lim Bitcoin
      • Jonathan Ross Bitcoin
      • Bear Grylls Bitcoin
      • Phillip Schofield Bitcoin
      • Mike Hosking Bitcoin
      • Ryan Reynolds Bitcoin
      • Dick Smith Bitcoin
    • Broker Reviews
      • Herdos Review
      • FXTB Review
  • Disclaimer

Copyright © 2017-2019 Cryptovibes.com. Price data provided by our official partner CoinGecko.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.