Hey crypto fam, you might want to *sit tight* for this one! š± The latest twist in the *XRP* saga is turning heads, and it involves *Jed McCaleb*, one of Rippleās co-founders. *Is he really behind trying to crash XRP*? š¤
Letās break it down and see what the *Ripple CTO* has been revealing! š
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*The Background: Who is Jed McCaleb?*
Jed McCaleb is a *crypto pioneer*, best known as one of the co-founders of *Ripple (XRP)*. He later left Ripple and went on to create his own project, *Stellar (XLM)*. šŖ
However, McCalebās departure from Ripple wasnāt exactly smooth. Rumors and controversies have surrounded him for a while, and now, the *Ripple CTO*, *David Schwartz*, has *exposed* some shocking details. š³
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*What Did the Ripple CTO Reveal?*
The *Ripple CTO*, *David Schwartz*, has shared some *explosive info* through his social media accounts recently. š¦ According to him, McCaleb was *dumping large amounts of XRP* on the market during his exit, which caused significant *price fluctuations* and *market instability*.
- *Jed McCalebās Massive XRP Sales*:
McCaleb had an agreement with Ripple to gradually sell his XRP holdings over time. But the *way* he went about selling these tokens raised questions about his intentions. Schwartz claims that McCalebās selling behavior was more like a *deliberate attempt to depress the market* rather than just cashing out slowly.
- *Selling Pressure on XRP*:
By offloading huge amounts of XRP at once, McCalebās actions were seen as a form of *market manipulation* that put unnecessary *selling pressure* on XRP. This led to price dips and *market crashes* at crucial moments. š„
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*What Does This Mean for XRP?*
*1. Trust Issues* š
This revelation creates *distrust* among investors and the crypto community. If McCaleb was *playing dirty*, it undermines the *credibility* of Ripple and XRP as a whole.
*2. Impact on XRPās Price* š
This behavior likely contributed to *XRPās price volatility*, causing significant fluctuations in its value. The market was hit with sudden, unanticipated sell-offs, causing *XRP holders* to feel uncertain about their investments.
*3. Ripple's Reputation* š
Rippleās legal and financial standing could also take a hit from this. Itās one thing if a co-founder leaves, but itās another if theyāre *seen as actively trying to hurt the tokenās price* after their departure.
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*Why Did McCaleb Do This?*
While McCaleb has publicly stated that he *wanted to cash out* for personal reasons, some believe that he may have been *bitter* about his exit from Ripple. His actions might have been motivated by some *resentment* or a desire to make money at the expense of XRPās long-term stability. š°
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*So, What Now?*
- *Rippleās Legal Battle*:
Ripple is already *fighting* the *SEC* over the classification of XRP. These new revelations about McCalebās actions may add another layer of complexity to the case. š
- *XRP Investors Should Stay Vigilant*:
If you're holding XRP, you need to *stay informed* and be ready for *market fluctuations*. *McCalebās actions* show that the XRP market is *vulnerable* to large sell-offs and manipulation. š¬
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*The Bottom Line* š§
Itās *shocking* to think that a co-founder like Jed McCaleb might have intentionally tried to *crash XRPās price*. While itās not entirely clear what his motivations were, *Rippleās CTO* has opened a door to a potentially *dark chapter* in XRPās history. ā”
For now, XRP investors need to keep a close eye on any further developments as Ripple continues to face both *legal battles* and *internal conflicts*. šØ
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