Ripple News Today – Top Headline for Ripple XRP February 8th, 2020

  • Ripple’s partner MoneyGram is now utilizing Ripple’s ODL in five payment corridors globally
  • Ripple co-founder Jed McCaleb sold a billion XRP from his account

Ripple Latest Update – Ripple’s On-Demand Liquidity (ODL) is currently available with the U.S dollar, the Mexican peso, the Australian dollar, the Philippine peso, and the Euro via the International payment remittance platform, MoneyGram. Currently, 10% of their U.S to Mexico corridor, which is their biggest corridor, is moving over to XRP and On-Demand Liquidity (ODL). According to Ginger Baker, Ripple’s senior director of product, Ripple incorporated the Australian dollar towards the end of 2019.

Ripple News Update – In a recent Ripple webinar, Ripple’s senior president of product management, Asheesh Birla, spoke on the development Ripple is making with their corporate partners. It was also reported that Bitso transferred $18 million of remittance via XRP in the last weeks of December 2019. Thus far, it has been increasing at 15-20% weekly.

Ripple co-founder Jed McCaleb sold a billion XRP from his account

Ripple Latest News – According to the report from WhaleAlert, Ripple co-founder Jed McCaleb sold off over one billion XRP between 2014 and 2019. Whale Alert tracks blockchains and broadcast notifications on Twitter and Telegram on the big movement of cryptocurrency. The report which was published on February 6, Whale Alert projected that McCaleb has about 4.7 billion XRP left from his account to sell, approximating to about 5% of the whole supply.

XRP News Update – At XRP price currently, the supply is worth over $1B, totaling the #135 million Whale Alert projected he has realized through XRP sale to date. McCaleb sold another 19 million, or $4.13 million worth last month. Whale Alert claims the rate may surge this year as the agreement restricting his XRP Sales terminate. He went thus:

“At the current rate it would take him around 20 years to sell all of it, however, his activities have been limited by the settlement agreement with Ripple, which is likely to expire sometime in 2020.”

Ripple News Update – The news of the transaction came with mixed reactions from some XRP holders on Twitter. Commenting on this, Whale Alert stated: “We didn’t want to alarm people, but I hope they now have a better view of what’s going on.”

XRP (XRP) Price Today – XRP / USD

NamePrice24H %
ripple
XRP(XRP)
$0.567
-14.15%

So far Whale Alert has analyzed 90,000 transactions. To prove his publication, Whale Alert posted the addresses it has recognized as that of McCaleb, which he tracked through the information on his blog, forum post, and public ledger.

He stated: “By analyzing over 90,000 transactions we were able to track around 8 billion XRP to Ripple, a settlement account and his accounts from which he actively sells.”

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