XRP, Bitcoin: this former Ripple executive sold his cryptos
From 26 million to 3 million XRP, from 1,500 bitcoins to just one: David Schwartz has significantly reduced his cryptocurrency reserves over the years. The former technical director of Ripple explains these sales by…
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https://cryptoast.fr/david-schwartz-ripple-vend-xrp-bitcoin-ether/
David Schwartz has sold most of his cryptocurrencies over the years. On November 10 on X, the former technical director of Ripple detailed his holdings: around 3 million
“It’s not a secret,” recalled one of the designers of the XRP Ledger, the blockchain on which XRP circulates. These estimates represent a reduction of approximately 88% of its XRP reserves and over 99% of those of Bitcoin and Ether.
It's not a secret. I think I'm down from a high of around 26 million XRP to around 3 million XRP. Down from around 1,500 BTC to 1 BTC. Down from around 40,000 ETH to 6 ETH. https://t.co/EnFjk9aXu1
However, he did not specify the dates or prices of these sales. Nothing in this exchange therefore makes it possible to link them to the current decline in the market or to see it as a recent liquidation of one's portfolio.
To explain his choices, David Schwartz cites his aversion to risk. He presents this caution as a personality trait that goes beyond cryptocurrencies, rather than as an expression of distrust of XRP.
On the same subject – XRP Ledger: how the network is preparing for the quantum threat
The former manager explains in particular that he agreed with his wife to sell part of his tokens at each new price record. A rule that allows it to realize part of its gains as the market progresses.
He also holds shares in Ripple, the American company that uses XRP in some of its payment solutions. However, according to him, this participation represents an exposure to risk even greater than what he would like. Owning company stock and owning XRP are two separate investments.
These confidences come as XRP is going through a difficult period. At a price of around $1.05, the approximately 3 million tokens that David Schwartz says he still holds represent around $3.2 million. Its exposure therefore remains significant, despite the sharp reduction in its reserves.
Like Ethereum and Solana, XRP has fallen more than Bitcoin since the start of October. This slowdown in altcoins takes place in a context that is unfavorable for the riskiest assets.
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- Cryptoast11 Nov, 09:00XRP, Bitcoin: this former Ripple executive sold his cryptos ↗Figures: 26 millions · 3 millions
| Publisher Cryptoast (general tier) | +72 |
| Checkable figures cited | +3 |
| Detailed summary | +2 |
| Total | 77 |
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