Jed McCaleb Now Has 114 Million XRP Left: Report
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According to data provided by Jed Balance, a website dedicated to monitoring Jed McCaleb's XRP balance, the Ripple co-founder and former CTO now has less than 114 million XRP left in his wallet.
We are now officially at less then 1 month until Jed McCalebs taco stand account is empty of $XRP. https://t.co/lS9kfCwK08
— Rob XRP ☀️ (@robxrp1) June 25, 2022
According to reports, McCaleb began working on Ripple in 2011 and was a member of the company's founding team when it launched in 2013. He was given 8 billion XRP tokens for his work in creating and starting OpenCoin, which was eventually renamed Ripple, even though he left it in 2014 to focus on Stellar (XLM).
McCaleb has stated in the past that he intends to sell the funds he receives according to a set schedule. He has since then occasionally sold XRP.
Here's how much is left in his wallet
Jed McCaleb currently has 110,871,334 XRP left in his wallet, according to the website monitoring the former Ripple CTO's balance.
He is anticipated to run out of it in 28, 26 or 30 days, depending on how quickly he sells this amount. The first option requires him to dump 3,718,395 XRP every week, the second one necessitates selling 4,033,827 XRP on average every month and the third one is possible provided McCaleb sells 3,523,447 XRP on average every three months.
However, it appears that the website just displays his current balance and does not account for how much more XRP Ripple still owes its former CTO.
XRP price action
After a sharp decline last week, digital assets started to show signs of recovery, and XRP climbed as much as 16% on June 24. With a breach over the $0.35 barrier on June 24, the tight range trading on the XRP daily chart resolved to the upside. If the price continues to move upward and breaks through the MA 50, this might portend the beginning of a new upward trend. The pair may first gain ground to $0.46 before accelerating toward $0.56.
At the time of publication, the price of XRP was $0.366, up 1.64% over the previous day and 17.40% over the previous week.
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