Former Ripple CTO Jed McCaleb Ready to Sell Another 120 Million XRP ($28.14M)


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Ever since hitting its all-time high of $3.84 in January 2018, XRP hasn’t been having a good time. As a matter of fact, it has been only on a decline.

There have been several pumps along its downward journey, but unlike other altcoins, XRP fails to show any momentum.

In 2020, the fourth largest digital asset managed to record 20% losses, but it is among the worst performers, joining the ranks with Bitcoin Cash (BCH) and Litecoin (LTC).

At the time of writing, XRP has been trading at $0.234, managing just $109 million in ‘real’ trading volume.

Amidst this, former Ripple CTO Jed McCaleb continues to dump his XRP on the market regularly. Just yesterday, another 120 million XRP were transferred to his wallet.

Although this doesn't have much of an impact on the price of XRP, with not much happening with XRP’s price anyway, it just adds to the sell-side.

XRP sees some use!

Ripple's prominent partner, SBI Holdings, however, continues to keep XRP relevant. In the latest news, SBI Group’s subsidiary, SBI esports, announced that it would be paying player salaries in crypto instead of fiat.

Esports players will drive their salaries in XRP as part of the sponsorship deal with Venture capital firm, VC Trade, to strengthen the company's presence in the field.

With this deal, the goal is to “create and nurture a healthy market based on customer-centricity, improve prices, and expand liquidity.”

Increase those numbers…

According to Ripple, using sustainable architecture means XRP transactions could grow by more than 1000% by 2025.

Ripple also wrote about how “the digital asset XRP is a staggering 61,000x more energy-efficient than Bitcoin.”

The company has announced that it will achieve a net carbon zero target by 2030 for which it is working with XRP Ledger Foundation, Energy Web, and the Rocky Mountain Institute.

The company is also helping in launching and funding the EW Zero open-source to enable any blockchain to decarbonize through the purchase of renewable energy in local markets in partnership with Energy Web Foundation.

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