Former Ripple’s CTO Jed McCaleb Has Sold 265M XRP So Far This Month

So far in May, Ripple’s first chief technology officer, McCaleb has sold about 265 million XRP from his cold storage. Jed McCaleb with Chris Larsen has shifted close to 265 million XRP from his electronic address to sell in the last 20 days. Moreover, in his “Taco stand” wallet, he still possesses about 400 million XRP and his net worth has just decreased by 27%.

Sales of XRP

The Ripple co-founder sold 80.4 million XRP last week. This week, he has been selling 10,008,592.270000 XRP a day, totaling slightly more than 60 million. According to XRPscan, Jed McCaleb has made 20 payments totaling 10 million, 13.4 million, and 17.3 million XRP since May 2, after receiving 442,127,865 XRP from a Ripple account.

McCaleb currently has 399,263,523.855929 XRP in his “tacostand” wallet. At the current exchange rate of $1.12 which is roundly equal to $449,116,308.

Between May 10 and May 19, when the crypto market was in full swing, 11 bitcoin billionaires saw significant reductions in their net worth. In these days Jed McCaleb’s net value has also dropped by 27% from $6 billion to $4.4 billion in XRP.

Chris Larsen was also among him and their XRP net worth have decreased by 19% and 27%, respectively. Larsen had a $1.3 billion loss and McCaleb had a $1.6 billion loss. Coinbase CEO Brian Armstrong, the Winklevoss twins, Barry Silbert and others are among them who lost their net worth badly but the CZ, the founder and CEO of Binance, has had no financial losses in his $1.9 billion net worth.

The amount of XRP traded per day by Ripple’s “defected” co-founder has been decreasing each week. He started the month of May by selling 17,301,056 XRP. It was 13.4 million in the second week and is currently at 10 million. Moreover, he began selling 12,093,062 XRP every day in April, then moved to dumping 8,399,180 XRP each day.

XRP Current Ranking

XRP is ranked 6th cryptocurrency. Its value is currently standing at $1.12 with change of 4.14%. in the last 24 hours the trading volume is $9,793,947,381 along with market cap of $51,832,936,501. At the time of writing its circulating, maximum and total supply is 46.14B XRP, 100,000,000,000 and 99,990,461,026 respectively.


McCaleb’s initial nine billion XRP cache has been steadily diminishing, according to blockchain researcher and analyst Leonidas Hadjiloizou who expects McCaleb will run out of his XRP riches by the beginning of September.

The post Former Ripple’s CTO Jed McCaleb Has Sold 265M XRP So Far This Month appeared first on Ripple Coin News.

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Author: Gracie Perez

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