In the past 14 days, Jed McCaleb sold approximately 80 million XRP from his shrinking holdings
Over the past two weeks, Ripple Labs co-founder Jed McCaleb has sent around 80 million XRP to crypto exchanges for sale.
Jed McCaleb sold 80 million XRP in the past two weeks, 647 million remains on his balance
McCaleb again released several portions of XRP, sending them to crypto exchanges to convert to fiat. XRPscan shows 17 XRP transfers from McCaleb’s “tacostand” crypto wallet, each carrying 4.4 million to 6.5 million XRP. The fiat equivalent of 80 million XRP is $71,471,516 at the price of $0.9.
As AZCoin News reported, on August 1, Ripple transferred another staggering lump of XRP to McCaleb’s address—182.3 million XRP, totaling $138,747,891 at that time.
Jed McCaleb founded OpenCoin together with Christopher Larsen back in 2012. In about a year, McCaleb leftover significant discrepancies with Larsen and founded Stellar to realize the ideas he could not implement in the first company, which was later renamed Ripple Labs. Since then, Jed has been receiving regular portions of XRP as compensation. The overall amount of crypto the company owes him is eight billion XRP.
Researchers from the XRP community believe that McCaleb will run out of his XRP riches by September of this year. The current balance on Jed’s tacostand wallet is 646,598,147.86282 XRP, according to XRPscan.
Data on the web page dedicated to the regular lumps of XRP that McCaleb has been receiving from Ripple since 2013 shows that the estimated time to go before he runs out of his XRP for good is almost seven months or 231 days.
Today, XRP touched $0.9 after trading sideways in the $0.5 – $0.7 since June 22. Later on, however, XRP went down a little again. At press time, XRP is exchanging hands at $0.91, demonstrating an almost 10% rise.
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