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Jed McCaleb Has Cashed Out 152 Million XRP Over Past Nine Days

News
Mon, 03/15/2021 - 09:26
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Yuri Molchan
Over the past week, Ripple cofounder and Stellar founder Jed McCaleb has moved a whopping 152 million XRP to be dumped on the market with 453 million XRP left on balance
Jed McCaleb Has Cashed Out 152 Million XRP Over Past Nine Days
Cover image via jedmccaleb.com
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Recent data from XRPscan shows that Jed McCaleb keeps selling his XRP richeswhich are, however, nearing an end.

In the past nine days, McCaleb has sent a staggering 151.9 million XRP from his "tacostand" wallet to be sold.

Meanwhile, 453,564,660.225819 XRP remains on his wallet's balance.

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Image via XRPscan

XRP cashed out into $65,183,376

The mind-blowing number of XRP coins sold by Jed McCaleb since March 6 totals 152 million, which adds up to more than $65 million converted to fiat U.S. currency.

It took him nine transactions (one per day) of approximately 18.5 million XRP each to do that.

McCaleb's "tacostand" wallet still holds half a million XRP coins. The community believes that he will sell out all of his remaining coins by the end of the year.

At press time, XRP remains in seventh place on CoinMarketCap and is still trading in the $0.43 range.

On March 10, U.Today reported that McCaleb cashed out slightly over 108 million XRP.

Related
XRP Holders Want to Intervene in SEC vs. Ripple Case as Third-Party Defendant

XRP has tanked after the SEC filed a lawsuit

The coin lost about 67 percent of its market value in just a few days after the U.S. security regulator announced a lawsuit filed against Ripple on Dec. 21, 2020.

However, it then managed to reach the $0.63-0.65 peaks on Feb. 1 and Feb. 22.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.