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Jed McCaleb is putting XRP on hold, or being affected by Ripple lawsuit

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According to the plan, Ripple will release nearly 1 billion XRP from escrow accounts on January 1, 2021

Original title: Jed McCaleb Suspends XRP, Affected by Ripple Lawsuit

Source: Odaily Planet

Researcher Leonidas Hadjiloizou believes Ripple co-founder and former CTO Jed McCaleb has now stopped selling his XRP.

Hadjiloizou said the reason may be that the SEC announced on December 21 that it would file a lawsuit against Ripple.

Jed McCaleb suspends regular XRP sales

According to the Ripple settlement Jed McCaleb signed when he left in 2013, he can't dump all of his 9 billion XRP into the market at once. McCaleb regularly receives XRP sent by Ripple, and he usually sells a large portion and becomes a regular operation.

As reported in early December,Researcher Leonidas Hadjiloizou says, Jed McCaleb sold over 29.5 million XRP in one day (Dec 6). At the current rate, McCaleb would be able to sell a total of 207m XRP in a week, according to its estimates. A year ago it took him 300 days to sell 207 million XRP, 68,9395.68 XRP a day; Now it only takes seven days. "Although the significant increase in XRP trading volume occurred 10-14 days ago, it had an impact on the McCaleb sale 1-2 weeks later. This means that McCaleb is being sold in a way that is far beyond the reach of the current market."

星球前线｜Jed McCaleb暂停抛售XRP，或受Ripple诉讼影响

Hadjiloizou said at the end of November,Data shows Jed McCaleb is stepping up the pace of selling cryptocurrencies for cash, in line with his agreement with Ripple after it was revised in 2016. In the first year of the agreement, he was able to sell an average of 0.5% of XRP's daily trading volume per day. In the second and third years, he can sell 0.75 percent, and in the current fourth year, he can sell 1 percent. At the end of the fourth year, McCaleb will be able to sell 1.5% of the average daily trading volume. Because XRP's trading volume has skyrocketed along with its value, McCaleb is free to sell at a faster pace.

Lately, however, things seem to have changed. On December 9, NBSP; Jed McCaleb Received 266305309 XRP sent by Ripple; On December 23, he received another 133,152,654 XRP.According to the data on the Bithomb chain,McCaleb's most recent XRP sale with his wallet "~tacostand" was on December 23, the same dayThe SEC announcedRipple and two executives have been sued.

Leonidas Hadjiloizou found out too, tweeting that it was a cake; Jed McCaleb has stopped selling XRP, and it's not clear if he or Ripple has been forced to stop, affecting McCaleb's sales.

One Twitter user suggested that McCaleb was concerned after SEC filed a lawsuit against Ripple, its CEO Brad Garlinghouse and co-founder Chris Larsen. McCalleb, also a Ripple co-founder, has been selling XRP, just like Larsen and Garlinghouse (who are accused of selling unregistered investment contracts -- securities). Maybe he realized that he might have to pay back some of the money as a fine.

星球前线｜Jed McCaleb暂停抛售XRP，或受Ripple诉讼影响