Jed McCaleb, a former Ripple Chief Technology Officer (CTO) has been consistently selling off his XRP with less than $15 million worth of XRP remaining in his wallet, and may be emptied in nine days according to data suggestion.
In 2013, McCaleb was a key member in the creation of Ripple Labs, later in 2014, he left Ripple to create his blockchain project which is the famous Stellar (XLM), Ripple thereafter compensated him with 9 billion XRP.
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Last year, there were rumors that McCaleb was consistently selling off significant amounts of XRP. According to XRPscan, McCaleb’s “Tacostand” wallet sold 38 million XRP, or $22 million, on February 14.
As of then, if the selling pace continued, his wallet would have left with no XRP token by May 2021, contrarily, the selling pace didn’t continue. At a time, he couldn’t sell his XRP tokens due to his earlier agreement with Ripple Labs that he must keep his XRP token for a time being to dampen XRP volatility.
An instance of this is when McCaleb sold nearly $1.2 billion XRP tokens in February last year, which had a significant effect on the XRP price.
Four days after recovering from $0.28, the lowest rate of XRP token since January last year, the price of XRP rose roughly 30 percent on June 24. According to recent analyses, the token’s retracement recovery might reach $0.41 next. While writing this, one XRP is worth $0.321.
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