Jed McCaleb, co-founder and first chief technology officer of altcoin project Ripple Labs, suspended the sale of XRP cryptocurrencies in September last year. However, according to XRPscan, Jed McCaleb opened his stash again and started pouring massive amounts of XRP into the crypto market.
JED-i’s return: Emptying the altcoin cache!
A crypto enthusiast believes he has increased his sales by nearly 140% in the last three days and could be fully sold within a month. Now, roughly 250 million XRP remain in Jed’s ‘tacostand’ wallet.
According to data shared by the XRPscan platform, which focuses entirely on XRP transactions, Jed McCaleb is back to selling the remnants of his massive XRP stash starting this year. Since January, it has dumped about 464.8 million XRP, which is equal to $186,790,421 at the current exchange rate.
The amount of XRP coins sold each week varies (from 18 million to 26 million to 42 million). According to Twitter user Rafael Ken Aguilar, it has increased its sales volume by about 140% in the past three days, selling almost nine million XRP per day, while before that it was between four million and six million per day. Rafael says that if this selling rate continues, Jed McCaleb will completely exit XRP in about a month.
To all #XRP strong believers, let me update us all.#XLM boss @JedMcCaleb whom in the last 3 days increased his XRP dump rate by approximately ~140%. So at this current rate, it requires 29 days or 1 month for his entire #Tacostand to stop dumping ducks.
While everyone forgets. pic.twitter.com/lezuTAxYFl
— Rafael Ken Aguilar (@rafaelken1989) May 24, 2022
Jed still has 250 million XRP left
According to XRPscan, a total of 249,200,734 XRPs remain in Jed’s wallet called ‘tacostand’. A website created by the altcoin community to track the rate of sales of Jed McCaleb shows a slightly larger figure: 257,858,264 tokens.
Kriptokoin.com , as we reported in the news, nine billion XRP was given to Jed McCaleb by Ripple’s senior management when he left the company a year after it was founded to establish rival altcoin project Stellar. . It is understood that only 257,858,264 tokens remain from this amount.
Based on how much he will sell per week, two possible dates are calculated when Jed McCaleb’s XRP is likely to expire: July 14 and August 8. At the time of writing, Ripple (XRP), the sixth largest cryptocurrency according to CoinMarketCap data, was trading at $0.4038, down 1.24% in the last 24 hours.
