Former Ripple CTO dumps more XRP; here’s how much XRP is left in Jed McCaleb’s wallet
Data from XRPscan suggests that over the week, former Ripple CTO Jed McCaleb has moved yet another large amount of XRP from his wallet. From 20 to 26 February, McCaleb moved more than 135.8 million XRP from his tacostand wallet in six separate transactions. The former chief made a payment of more than 19 million XRP five times between 22 and 26 February. He also moved more than 38 million XRP on 20 February, as seen in the image below.
The price of XRP has been falling in the last two weeks and at press time XRP was trading at $0.43 with a 10% dip in the last 24 hours. This means that the amount of XRP that McCaleb cashed out is about $58 million. Previously, between 12 and 15 February, the Ripple cofounder transferred more than 114 million XRP, which left 365,628,235.465371 XRP remaining as the total balance in his tacostand wallet.
After the latest transactions, McCaleb is now left with more than 76 million XRP in his wallet.
Other than the tacostand wallet funds, an analyst said that McCaleb has more than 2 billion XRP remaining in cold storage and believed that the amount would run out by May if the former CTO continues to transfer large amounts of XRP from his wallet.
As of December last year, McCaleb’s estimated sales from his XRP holdings were $1.2 billion – at $0.20 per XRP. Over the years, his combined totals for XRP sold for fiat at 2.25 billion XRP or $546 million.
With regard to reactions from the XRP community, one member believed that since McCaleb is already a billionaire; the XRP sales wouldn’t make a difference to his portfolio. Another claimed that such XRP sales would allow others in community to hoard up from McCaleb’s “pile” of XRP.