Ripple: Jed McCaleb is selling all its XRP, is that a problem?
Ripple: Jed McCaleb is selling all its XRP, is that a problem?

By Roberto D. | CryptoFarm | 8 Feb 2020


Jed McCaleb, the co-founder of Ripple (XRP) and Stellar (XLM), has sold $ 1.05 billion of XRP since 2014.

The dailyhodl.com website tells us that the tokens in McCaleb's possession are compensation for his previous role in Ripple.

Here's how McCaleb sells XRP on the market

In 2016, in fact, after a legal battle with Ripple, the parties reached an agreement that allows the co-founder to slowly sell the remaining 5.3 billion XRPs in possession at a rate equal to 1.5% of the average volume daily digital activity.

According to data provided by the Whale Alert team, Jed McCaleb has 4.7 billion XRP left which he is continuing to sell.

In the current month, it would have already sold 19 million XRP on the market.

 

Whale Alert's opinion

Regarding the direct impact of these sales on Ripple's price, Whale Alert says that, compared to the trading volume of all XRPs on the market, McCaleb's sales seem insignificant.

For example, from June 1-7, 2017, Jed McCaleb sold a total of 2.5 million XRP for $ 741,000 compared to a total trade volume, in the reference week, of 127 million XRP only on the Bitstamp exchange .

Jed McCaleb sells Ripples on Bitstamp and collects without other cryptographic conversions.

Whale Alert says that McCaleb sells Ripples on Bitstamp and converts them into cash without exchanging them for other crypto assets.

 

 

 


 

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Roberto D.
Roberto D.

Born in Italy, I live in Italy, passionate about cryptocurrencies since I discovered ethereum in 2015


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