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Jed founded McCaleb Ripple in 2011. McCaleb was involved in several litigation and was unable to sell his entire inventory of over 4.7 billion XRP. His towering qualities have been a constant thorn in Ripple’s side and have made McCaleb one of the richest people in the world.
McCaleb has been getting XRP on a semi-consistent basis for years, and it looks like he just got a new batch of XRP tokens.
McCaleb receives another 63M XRP
According to Whale Alert (@whale_alert), McCaleb has received others $ 12.3 million from XRP Your agreement. Today, around 63.7 million XRP were transferred to its portfolio.
63,704,590. #XRP ($ 12,293,769) transferred from Jed McCaleb Settlement to Jed McCaleb Wallet
Tx: https://t.co/UVbEN1FJMt
– Whale alert (@whale_alert) April 7, 2020
Many replied with the expectation that McCaleb would resell his properties, as he has done in the past.
Guess what he’ll do
– CryptøManiac101 (@_Crypto_Maniac_) April 7, 2020
It is currently unclear whether the limitations of the legal agreement prevent McCaleb from selling immediately or whether he can get rid of the tokens in a single sale.
Always unloading coins
As part of the show, Ripple unlocks 1 billion coins every month. The team also adds McCaleb’s holdings in XRP. The result was constant selling pressure that compared XRP to the Plus Token scam – a pyramid scheme that made endless sales to enrich its founders. With continued sales, XRP 2019 was the biggest loser among the top 10 cryptocurrencies.
It is unclear what McCaleb does with his real estate. He founded Stellar (XLM), which at the time of this writing has a market cap of $ 980 million. In addition to receiving XRP, he also owns a large proportion of his XLM cryptocurrency.
BeInCrypto previously reported McCaleb’s loot. By February 2020, approximately 1.05 billion XRP worth approximately $ 135 million had been sold.
Although we have no evidence that McCaleb is hurrying to get rid of his newly received XRP, traders should be aware that the threat is there.
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