Founder of Ripple (XRP), Mt.Gox, Stellar (XLM) and ex-Chief Technical Officer of Ripple Jed Mccaleb has been in the news many times for selling large quantities of XRP. In 2020, he dumped about 1.2 billion XRP at an average price of $ 0.34. He continued this trend in 2021. Hundreds of millions of XRP were sold by the crypto billionaire in 2021.
Also in May of this year, according to data from XRPscan. In the past 20 days, Jed McCaleb has sold approximately 265 million XRP. On May 2, McCaleb received 400 million XRP from a Ripple address. Since then, he has put large amounts of XRP on sale every day. In total, McCaleb currently owns 399 million XRP with a market value of $ 449 million.
McCaleb started the month of May with daily sales of 17 million XRP. This amount decreased as the month progressed. The second week of May, he sold only 13.4 million per day and now only 10 million XRP per day. The same trend could be seen in April. As the month progressed, the amount of XRP that McCaleb dumped daily decreased. The question is therefore whether McCaleb will continue to reduce his daily sales in the last week of May.
According to blockchain analysts, McCaleb still has enough XRP to sustain his daily selling behavior through September of this year. Originally, he had 9 billion XRP. The recent price correction also had a major impact on McCaleb’s net worth. According to Forbes, McCaleb’s net worth fell by more than 27%. However, he is no exception. Forbes reveals that most crypto billionaires have lost much of their assets in this week’s volatile market.
The fact remains that Jed McCaleb doesn’t seem to be stopping his large-scale, long-term sale of XRP. As analysts have predicted, he can continue this until September this year.