XRP Didn’t Care About Jed McCaleb and Chris Larsen’s Massive Dumps
Main Idea
The article discusses the impact of large XRP sales by former Ripple co-founders Jed McCaleb and Chris Larsen, arguing that such sales did not significantly affect XRP's market resilience.
Key Points
1. Jed McCaleb transferred 266,305,309 XRP (worth ~$148 million in 2020) from his settlement account to his personal wallet, which was flagged by Whale Alert.
2. Dark Defender noted that if McCaleb had held the XRP instead of selling, it would be worth ~$940 million today, highlighting XRP's long-term resilience.
3. Chris Larsen sold $175 million worth of XRP, drawing parallels to McCaleb's 2020 sale, but neither sale caused major disruptions to XRP's price or market structure.
4. Dark Defender and the XRP community argued that fears of major XRP sales by early holders are largely unfounded, as historical events show minimal market impact.
5. The article references community reactions, including skepticism about whether McCaleb's transfer was a confirmed sale or merely a wallet movement.
Description
Crypto analyst Dark Defender has recently revisited a significant XRP transaction from December 9, 2020. The tweet focused on former Ripple co-founder Jed McCaleb , who moved 266,305,309 XRP, valued at approximately $148 million at the time, from the Jed McCaleb Settlement account to his wallet. This transaction was originally flagged and reported by Whale Alert, a well-known blockchain tracking account. In his post , Dark Defender highlighted that the event, which some at the time viewed as pot...
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