XRP Proponent Laments: So Ripple CEO Sold $200 Million of XRP at the Top
Main Idea
Ripple CEO Brad Garlinghouse sold $200 million worth of XRP near the recent market peak, sparking community backlash and questions about his faith in the cryptocurrency.
Key Points
1. Ripple CEO Brad Garlinghouse sold approximately $200 million worth of XRP near the recent market peak, as flagged by blockchain influencer Crypto Bitlord.
2. This is not the first time Garlinghouse's XRP sales have raised concerns; the SEC previously disclosed $600 million in sales between 2017-2020 during its lawsuit against Ripple.
3. The community reacted negatively, with some questioning Garlinghouse's trustworthiness and calling XRP a scam due to executive sell-offs.
4. Garlinghouse still holds significant XRP, but critics argue the sales damage the credibility of Ripple's long-term vision for XRP.
Description
A wave of frustration has swept through the XRP community following revelations that Ripple CEO Brad Garlinghouse sold approximately $200 million worth of XRP near the recent market peak. The information, first flagged by blockchain analytics platform Xaif, was amplified in a post by prominent crypto influencer Crypto Bitlord, who questioned Garlinghouse’s faith in XRP’s long-term promise if he chose to offload such a substantial amount at the top. XRP sales linked to Garlinghouse’s wallets were...
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