Ripple co-founder has resumed selling his XRP stash, pushing off nearly 500 million coins since this year started
Ripple Labs co-founder and first CTO Jed McCaleb, who suspended the sale of his XRP coins in September last year, has resumed pouring large amounts of XRP into the crypto market, according to XRPscan.
In the past three days, he has increased selling by roughly 140 percent and he might be done with selling completely within a month, a crypto enthusiast believes.
Now Jed has around 250 million XRP in his “tacostand” wallet.
The Return of the JED-i
According to data shared by XRPscan platform focused entirely on XRP transactions, Jed McCaleb got back to selling the remnants of his huge XRP stash as this year began.
Since January, it has sold around 464.8 million XRP, which is equivalent to $186,790,421 at the current exchange rate.
Every week the amount of XRP coin sold varied—from 18 million to 26 million and 42 million. Over the past three days, he has increased the selling volume by roughly 140%, selling almost nine million XRP per day, while prior to that it was from four to six million daily, as Twitter user Rafael Ken Aguilar pointed out.
He believes that if this sell rate were to remain, McCaleb would be out of XRP in about a month.
Jed still has 250 million XRP left
As per XRPscan, a total of 249,200,734 XRP still remain in Jed’s wallet, called “tacostand.” A website created by the XRP community to trace McCaleb’s sales rate shows a figure that is slightly bigger: 257,858,264 tokens.
It’s what’s left of the nine billion XRP given to McCaleb in part by Ripple’s management when he left the company a year after it was founded in order to set up rival blockchain Stellar.
Two possible dates at which McCaleb is likely to run out of XRP are offered here, depending on how much he will be selling per week: July 14 and August 8.
As of this writing, the sixth-largest cryptocurrency, XRP, is changing hands at $0.3944, per CoinMarketCap, posting a 7% decline in the past 24 hours.
