Well , this may be true for him because if the price falls below the amount at which he sold ,he can buy again ,and then holdl untill it rises again.
Yup. So I guess we could say that this is a huge gamble for anyone who's thinking of buying.
Yeah. However this can be a huge breaking point for someone who can be bold to take this risky step ,towards buying the sold xrp especially now that the price is still struggling ,due to the effect of the lawsuit on ripple by SEC .
I think that this will have a negative effect on ripple because it shows that even the founders of the coins are actually quite worried about the pending lawsuit and do not have much confidence in their coin as well. I think they're doing something like this publicly just before there is a massive lawsuit and that determines the future of the company is very risky. It does not show that they are prepared for the lawsuit and many people may cash out on their ripple seeing that even the founders are doing such.
The co founder left before the present ripple lawsuit , so it is not because he is losing faith on the coin . What he sold was part of their agreement ,he was entitled to such amount based on being a co founder.
It is good to know that he was a co-founder that I had already left the company before selling the coins, because then it means that the primary Ripple company management is still invested into the coin. I think that this is a very good thing. However, something like this being reported in the news at the same time that they are facing a lawsuit is bound to cause a lot of discomfort with their investors. So like you said whilst he was entitled to do this he could not have chosen a worse time.
Someone gave an analogy that this was his plan towards getting a maximum profit ,from selling now ,and then buying back at a cheaper rate when the effect of his huge selling has actually cost the price of the coin to go down. As an investor in ripple , I wish that things turns out good for ripple .
I am also hoping for the best when it comes to the ripple coin and hopefully it is able to recover in the coming weeks. By this time next month we should know what the outcome of the lawsuit is and we should have a much clearer picture about how it will be going forward with descriptive and see. Anyway I do understand what he did, and whales generally tend to do this in the market by selling off a large portion of their investment and then buying it back at the lower price. It is a good tactic.
Whether positively or negatively, it will still affect the response ripple will receive from people especially the traders and people who specialize in holding a particular cryptocurrency when it's low and expect to sell when it's high
I think they made the agreement before the issue with SEC started so they can't do anything about him selling now because it's already an agreement before but. The condition is he can't sell everything at once. Just imagine if he did sell everything at once.
The present sale of xrp by one of its founder is not going to have much effect on ripple compare to the outcome of the legal tussle ripple is enmeshed in. Investors are anxiously waiting for its outcome.
