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Jed McCaleb Dumps Another 108.3 Million XRP, only 537 Million Left

Jamie West by Jamie West
March 14, 2021
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The Ripple ex-CTO Jed McCaleb continues to sell lumps of XRP and converting the crypto to fiat. Several have noticed that he has been selling huge amounts of the token in the last seven days, with a total amount exceeding 108.3 million tokens through his “Tacostand” wallet.

Data obtained from XRPscan showed Jed McCaleb’s activities in the last seven days has made several transfers from his “Tacostand” XRP wallet. Notably, Jed McCaleb is also known as the co-founder of Ripple along with Chris Larsen, who is the current Chief technical officer of the company.

Half of the said transactions were done at 13 million XRP each, while the other half were 18 million XRP worth transactions. The 108.3 million transfers last week equates to over $50 million at the present price of the coin at $0.47. Reportedly, Ripple sent the ex-CTO a whopping 672,974,493 XRP tokens; this once amounted to around $270 million in fiat. 

Caption: Jed McCaleb continues his high-profile XRP dump, sold another 108.3M

Caption: Jed McCaleb continues his high-profile XRP dump, sold another 108.3M

This leaves McCaleb with 527 million XRP tokens left. The exact number is thought to be 536,996,596.086819 XRP based on the balance shown by the “Tacostand” wallet McCaleb owns. However, the crypto community believes that Jed McCaleb still has around three billion XRP left, and most onlookers and analyst expects that he will be selling all of it by the end of the year. 

McCaleb left Ripple in 2013 after certain disagreements with co-founder Larsen. He was entitled to compensations after helping found the company and serving as its CTO in its early days. Thus, Ripple agreed to pay out billions of XRP to McCaleb. 

However, this amount was sent to him in lumps to prevent him from dumping all his tokens and crashing XRP. Lucky for XRP Holders, McCaleb’s regular sales do not impact the exchange rate of the XRP. In comparison, the lawsuit from the SEC has been more impactful on the price of the cryptocurrency.

jamie xrp news | XRP & Ripple News
Jamie West
Tags: cryptocurrency newsripple news todayRipple pricexrp news predictionxrp news todayXRP price
Jamie West

Jamie West

Jamie is an XRP veteran & keeps his finger on the pulse when it comes to all things crypto.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

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The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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