Ripple Co-founder May Have Sold An Average of 1.8 Million XRP a Day in April
Summary
- Ripple co-founder Jed McCaleb may have sold 1.8 Million XRP a day in April.
- McCaleb has been incredibly transparent about his XRP sales.
Jed McCaleb is the co-founder of the project that eventually became Ripple. Despite concerns, the crypto pioneer has remained very transparent amid his XRP sales.
Ripple co-founder Jed McCaleb likely sold an average of 1.8 Million XRP a day in April, assuming all outgoing wallet transactions are XRP McCaleb has sold. This is equivalent to almost $400,000 of XRP a day.
McCaleb’s Sell History
To analyze McCaleb’s sell history, we took a look at one of his known wallet addresses (we used the latest settlement transaction to find the wallet).
We noticed that most outgoing transactions have the same destination wallet. When analyzing the destination wallet, we saw that the XRP was being traded to USD. The wallet currently holds over $8 million in USD.
According to the data, McCaleb sold an average of 1,807,180 XRP a day in April, assuming all the outgoing transfers were XRP sales.
What This Means for Ripple’s XRP
McCaleb’s wallet still holds over 76 million XRP, with millions added every month. However, McCaleb has always maintained transparency evident by his public wallet address.
Furthermore, due to Ripple XRP’s massive daily volume, McCaleb’s sell-offs may not have a significant market effect on the cryptocurrency. According to CoinMarketCap, the 24-hour volume for XRP is well over $2 billion, meaning McCaleb’s XRP sales are just a fraction of the daily volume.
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