Ripple employees dumping XRP at Coinbase
There is a thread on XRPchat that clearly shows Riple employees have been sending their XRP tokens, 700,000 at a time on Coinbase. Now while the moderator of XRPchat thinks that Coinbase employees are providing liquidity to the popular cryptocurrency exchange, many believe that they are dumping their coins.
Here is XRP address of David Schwartz, CTO of Ripple, where you can see him dumping 700,000 on 9th, 10th, 13th and 15th April 2019.
2019-04-15 14:08
pro.coinbase.com
XRP
700 000.00
Destination tag: 2359390897
Fee0.000012 XRP
Client: rt1.0.11-117-g4e11ffb
Transaction hash: A877EB85B0EEA438079221824A041DA8B22597A827194FF44EAB9942BFA2ECC5
2019-04-13 02:36
pro.coinbase.com
XRP
700 000.00
Destination tag: 31272768
Fee0.000012 XRP
Client: rt1.0.11-117-g4e11ffb
Transaction hash: 9C32231FF027A9717BABB8C8F6C66F5EFC2D1E63567CEA9A71374511FDE8860C
2019-04-10 21:58
pro.coinbase.com
XRP
700 000.00
Destination tag: 153546813
Fee0.000012 XRP
Client: rt1.0.11-117-g4e11ffb
Transaction hash: 1A3B98B0C722C0738C76082717C8089E99FC30FA029609439BD7D931AE787FDD
2019-04-09 02:25
pro.coinbase.com
XRP
700 000.00
Destination tag: 1730024805
Fee0.000012 XRP
Client: rt1.0.11-117-g4e11ffb
Transaction hash: B4BBB6E2D46B018F4D1E1FC7159CB18EB63EFF85FDFAE4CEA2F3885514267C51
He is also notorious for pumping XRP’s price by tweeting fake news. Back in 2017, during the bull run, he tweeted about Ripple’s partnership with two household names and right around that time, he dumped millions of dollars worth of XRP on Bitstamp exchange.
@JoelKatz
When is announcement about the 2 big household companies?I thought today?
— Coinsaske (@TheRippleTrader) December 22, 2017
He was recently asked about the aforementioned dump as well but he has not replied back.
Why the recent dump sir? Another insider trading? https://t.co/m2jnQWlbIz
— DariStar (@DariStar2) April 15, 2019
Another is another tweet that confirms this.
Warning to all $XRP holders.
Ripple CTO @JoelKatz recently selling his $XRP stack is the biggest warning sign one could ever get. This is the most bearish sign for $XRP I have ever witnessed since beginning of ’17.https://t.co/aHqeaLbxv8
I recommend everyone to get OUT NOW
— Hlnoooo (@hlnoooo) April 20, 2019
So what do you think? Are fun times over for Ripple? May be, Ripple’s employees themselves believe XRP won’t do too well in coming months? Find the thread here.