Jed McCaleb has finally finished selling all of his XRPs

Ripple co-founder Jed McCaleb sold the rest of his loot. In total, it got rid of 9 billion XRP in recent years.

Jed McCaleb gets rid of his latest XRP

Recall that Jed McCaleb, the co-founder of Ripple, had left the project to create Stellar (XLM). A lawsuit with Ripple had left him several billion XRPs, which he had been getting rid of for many years now. Sales were in fact limited to a certain amount per month, so as not to drop the price of XRP.

That hasn’t stopped Jed McCaleb from making sometimes substantial sales, sometimes getting rid of several million XRPs in one day. In total, the sum assigned to the co-founder following the cause represented 18% of all XRP in circulation.

McCaleb’s regular “landfills” were therefore frowned upon by the Ripple community, which found it incongruous for a competing project manager to continue selling such sums.

👉 Learn more about the history of Ripple (XRP)

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An address that is finally empty

Jed McCaleb finished selling his cryptocurrencies yesterday, if his address is to be believed, where the last million XRPs came from. This is the culmination of a very long history that dates back to 2014. In total, the co-founder of Ripple managed to recover and sell 9 billion XRP. At the current price, this corresponds for a sum of 3.2 billion dollars.

The XRP community welcomed this long-awaited step:

The news has been pretty positive on Ripple’s side lately. Although the company has been engaged in a legal battle with the Securities and Exchange Commission (SEC) since 2020, it is scoring small wins. Last week he got that SEC be required to disclose some key documents relating to the case.

Considered a “historic” cryptocurrency, XRP is currently the seventh most capitalized cryptocurrency. It weighs 17 billion dollars and follows Binance’s BUSD.

👉 Also in the news Ethereum (ETH): according to a new schedule, The Merge is expected for September 19

Source: XRP scan

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