Jed McCaleb, Ripple’s co-founder, sold almost 70 million XRP in the past two week. Data from XRPscan shows.
According to the data, the “tacostand” wallet has sold 69.11 million XRP, with over 20 million of these hitting the market in the past six days. Overall, the most recent selling occurred on 24 May. This coincides with a decline in the price of XRP.
Over 5 billion has been sold, which is more than half of the 9 billion Ripple XRP he was awarded as his co-founder. In the meantime, the balance at his tacostand wallet address is almost 183 millionXRP.
Although he left Ripple in 2013, the ex-Ripple Chief Technology Officer still holds more than 3 million XRP in his holdings, which are regularly released by Ripple.
Monday’s XRP trade was around $0.39, which is 6.1% over the previous two weeks. The XRP/USD exchange pair briefly rose to $0.42, then dropped as the crypto market collapsed. In the past 24 hours, the 7th ranked cryptocurrency has gained about 2%.
There are predictions that Ripple’s win against the US Securities and Exchange Commission will result in positive price movement. For now, however, XRP is still 88% below its record high of $3.40 on 7 January 2018.
Stellar (XLM), co-founded by McCaleb
McCaleb is also the co-founder Stellar (XLM), a cryptocurrency which competes with Ripple in cross-border payments. Mt. Gox, a Bitcoin trading platform that was shut down after a major hacking attack in 2014.
Forbes currently listsMcCaleb is the 1414th richest person in the world, with a net worth exceeding $2.2 billion as of June 22, 2002.