Data provided by XRPScan indicates that in the last nineteen days, ex-CTO of Ripple, who also helped found it, Jed McCaleb, has released a whopping 214.5 million XRP tokens to be sold after he welcomed 408 million tokens from Ripple.
McCaleb dumps 215 million XRP
As per XRPScan, since June 3, founder of rivalling Stellar, McCaleb, has conducted twenty transactions, pushing large amounts of XRP from his “tacostand” wallet to crypto exchanges.
Three consecutive transfers carried 16,353,884 XRP, seven transfers were worth 12,915,667 XRP each, seven carried 8,221,608 XRP and three last moved 6,036,204 XRP each.
Jed received 408 million XRP from Ripple on the same day he started selling – June 3.
The total amount of XRP in fiat shifted by Jed since that day is equal to $124,354,817.
408 million XRP sent by the Ripple fintech giant to its former high-ranking employee amounts to $235,984,954.
Previously, U.Today reported that McCaleb had sold 453 million XRP in May.
At the time of writing, the sixth largest crypto by market cap, XRP, is changing hands at $0.6, as per data provided by CoinMarketCap.
Here’s when Jed will run out of XRP
jed.tequ.dev website shows a chart of McCaleb releasing his XRP holdings to sell. Currently, there are three forecasts as to when the former Ripple chief tech officer is likely to run out of his XRP riches.
It will depend on how much he will be selling per week from now. If it’s 7,597,207 XRP on average, then McCaleb is likely to run out of XRP by November 12 (142 days). That’s the longest term forecasted.
If he sells 11,459,239 XRP per month, this term shortens to 25 September (94 days left). Should he sell 12,744,966 XRP (three months’ average), McCaleb will see his XRP holdings disappear by September 15, which makes it 84 days to go.