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Jed McCaleb, Ripple Co-founder Sold 54 Million XRP in April

Co-founder of Ripple, Jed McCaleb sold more than 54 million XRP in April and however, has billions left to sell, according to his wallet activity.

Analyzing known wallets for Jed McCaleb confirms he sold off at least 54 million XRP within April 1-30. 

Jed McCaleb

On May 2nd, according to the report by TheCryptoAssociate based on data from McCaleb’s known addresses, the Ripple co-founder seems to be selling his supply of tokens regularly. Data shows that the wallet address probably used by McCaleb to sell XRP received an average of 1.8 million tokens every day in April, calculating 54,215,405 XRP — $11.7 million at the moment of the press.

Billions of XRP left to Sell

McCaleb is a crucial figure in cryptocurrency’s story, having founded the Mt. Gox exchange and co-founded Stellar. McCaleb also co-founded OpenCoin in the year of 2012, which later became Ripple, and allotted 9.5 billion XRP when the 100 billion supply was pre-mined. 

This plentiful supply of coins had led to the discussion surrounding McCaleb when he declared his intention to sell his share of XRP, a statement that made the token price to fall up to 40% within 24 hours. McCaleb then allocated a seven-year contract with Ripple that limited his monthly and annual sales of XRP.

As we reported, the Stellar CTO still has billions of XRP tokens available in his wallets — nearly 4.7 billion as of February 2020. In acknowledgment of concerns as to how his reaction might influence the XRP price, McCaleb told that he has been selling his XRP “at a slow, steady rate” and has no desire to “negatively impact other businesses in this industry.”

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