Whale Alert: Ripple Co-Founder Sells Over One Billion XRP Tokens

Analysts of the Whale Alert service came to the conclusion that the co-founder and former CTO of Ripple Jed McCaleb from 2014 to 2019sold 1.05 billion XRP coins a year.

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According to them, sales were almost always carried out through the oldest European exchange Bitstamp. With an average price of $ 0.129, the value of XRPs sold was $ 135 million.

“Also, at least 140 million XRPs were donated to various charities.”, - analysts emphasized.

Whale Alert representatives added, overThis January, McCaleb sold another 19 million XRPs. Today, he has at his disposal another 4.7 billion coins, or about 5% of all existing Ripple tokens, with a current value of about $ 1 billion.

The dynamics of XRP sales by years and the average price at which McCaleb "merged" tokens. For all the time, 1.05 billion coins worth $ 135 million were sold

Researchers emphasize that McCaleb could have sold much more in these six years if it had not been for the agreement between him and the company. The contract, however, expires "somewhere in 2020."

“At this rate, it would take him about 20 years to sell all this. However, McCaleb’s activity was held back by an agreement with Ripple. ”- say the researchers.

They added that they were able to correlate various addresses with McCaleb by analyzing the information on his blog and also the now-defunct XRP Talk and Ripple Forum.

Key XRP addresses associated with McCaleb

Researchers say salescarried out gradually and could not abruptly ruin the XRP rate, especially given the high volume of exchange trading. Nevertheless, the activities of McCaleb increased the market supply of the asset and, therefore, could exert permanent pressure on its price.

“It is also important to note that profits were recorded directly through Bitstamp, and we did not find evidence that any part of these funds was reinvested in the cryptocurrency market”, - experts concluded.

Recall that in September Ripple transferred 100 million XRPs to McCaleboo - about $ 26 million at the exchange rate at that time.