Ripple Co-Founder Jed McCaleb Has Been Dumping About 4 Million XRP Tokens Per Day This Month

Ripple Co-Founder Jed McCaleb Has Been Dumping About 4 Million XRP Tokens Per Day

Jed McCaleb, co-founder of Ripple and former CTO, now has fewer than 114 million XRP in his wallet, according to information given by Jed Balance, a website dedicated to tracking McCaleb’s XRP balance.

McCaleb reportedly started working on Ripple in 2011 and was a part of the founding team when the company launched in 2013. Even though he left it in 2014 to concentrate on Stellar, he was awarded 8 billion XRP tokens for his contribution in founding and launching OpenCoin, which was then renamed Ripple (XLM).

McCaleb has already claimed that he plans to sell the money he gets in accordance with a predetermined schedule. Since then, he has periodically sold XRP.

According to the Jed Balance website, Jed McCaleb presently holds 110,871,334 XRP in his wallet.

Depending on how rapidly he sells this amount, he should run out of it in 28, 26, or 30 days. The first option needs McCaleb to sell 3,718,395 XRP on average every week, the second requires him to sell 4,033,827 XRP on average every month, and the third is feasible if he sells 3,523,447 XRP on average every three months.

It appears, nonetheless, that the website just shows his current balance without taking into consideration the remaining amount of XRP Ripple still owes its previous CTO.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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