New to Crypto? Make sure you read the things you need to know about the Crypto Market in Canada for 2019. We've put all you need in this updated post!

End Of Ripple?

CoinGuyCoinGuy Administrator
edited March 2017 in Ripple
Could this be the end of Ripple?
If Ripple investors didn’t believe that before, they certainly do now. Just yesterday, CCN reported that Ripple Labs co-founder Jed McCaleb decided to sell the entirety of his XRP stock, which decreased the XRP exchange value by an astounding 40% in less than 24 hours. Now, a board member has resigned, leaving investors anxious about the company’s future.

Coverage in WSJ:
Thursday’s price decline raised questions about the impact on Ripple’s management and investors, who through venture-capital firms such as Andreessen Horowitz, Lightspeed Venture Partners and Google Ventures have contributed $6.5 million to its development. The rising value of XRP is the principle means by which the founders and their investors can realize a gain on the project.

Arthur Britto, another co-founder, took to a separate, company-hosted forum Thursday to try to assuage such concerns.

"We’ve heard and shared your concern about the founders' XRP allotment," Mr. Britto wrote in a post that Ripple spokeswoman Monica Long said was made on behalf of the company. "Prior to today, we’ve been working on a founders’ XRP lock up plan… You can rest assured that a dumping event like this won’t happen from other co-founders."

He added that "the short-term price of XRP does not hinder our ability to execute on the vision. Our company is well-funded. We’re not dependent on XRP."


Sign In or Register to comment.