Large wallets empty their bag… of Ripple (XRP). The company and its crypto is SHAKED by the lawsuit hanging in its face. Brad Garlinghouse even relies on supportive tweets to try to stop the bleeding. Ripple could find refuge in Japan: too bad for the United States which treated him like an outcast?
The little ones are faithful … or naive
According to a tweet posted by Santiment on December 23, 2020, the number of wallets holding large volumes of XRP has decreased considerably.
Since the announcement of the SEC’s lawsuits against Ripple, the number of portfolios of more than 10 million XRP, which is estimated to be worth approximately $ 490,000, has dropped to 18.
The SEC accuses Ripple for conducting an unregistered securities offering that has earned the company $ 1.3 billion to date.
It seems that the number of wallets that contain less than 10,000 XRP has not changed, which means that small investors continue to hold their XRP despite the situation of Ripple.
Garlinghouse expected it but, is he ready?
On December 22, 2020, the SEC filed a complaint against Ripple indicating that the company would have distributed several billion tokens XRP in exchange for non-monetary counterparties such as market-making services.
The file also states that the 2 main managers of the company, Brad garlinghouse and Chris Larsen, made personal sales of XRP for an amount of $ 600 million.
Garlinghouse stated that Ripple expected this trial. Long before the charges were official, the CEO of Ripple denied these accusations and maintains that the XRP is a currency.
He recently retweeted several statements from partners of Ripple who support his position, among whom Yoshitaka Kitao of SBI Holdings. According to the latter, for the Financial Service Agency Japanese XRP is not a title.
Ripple is unlucky with Bitcoin (BTC) and Ethereum (ETH) having a good end of the year. Brad Garlinghouse and his team must fight to try to save the furniture – you have to sacrifice superfluous decor when the house is on fire. Not sure support tweets have legal value. Ripple’s fate is in the hands of his lawyers, judges and most importantly, his loyal holders who will not let go in these dark hours.
Litecoin, welcome in the Silver Age