Ripple co-founder, Jed McCaleb, sold off 54 million XRP in April

Ripple co-founder Jed McCaleb’s wallet activity shows that he sold off at least 54 million XRP between April 1-30. Ripple co-founder seems to be liquidating his supply of XRP tokens on quite a regular basis. According to TheCryptoAssociate report, data shows that the wallet address supposedly used by Jed McCaleb to sell XRP received an average of 1.8 million tokens daily in April, totaling 54 million XRP.

Ripple Co-founder still has billions of XRP to sell.

Jed McCaleb is considered a key player in cryptocurrency’s history, having created the Mt. Gox exchange and co-founded Stellar. McCaleb also co-founded OpenCoin in 2012, which was later renamed to Ripple, and was allocated 9.5 billion XRP when the 100 billion supply was pre-mined. The ample supply of XRP had led to controversy surrounding McCaleb when he announced his intention to sell his portion of XRP, a declaration that triggered the token price to fall 40% within 24 hours. However, McCaleb negotiated a seven-year agreement with Ripple that limited his monthly and annual sales of XRP.

Jed McCaleb has nearly 4.7 billion XRP as of February 2020.

The Stellar co-founder and CTO, Jed McCaleb, still has nearly 4.7 billion of XRP as of February 2020 available in his wallets. However, McCaleb has asserted that he plans to sell XRP at a slow and steady rate, and he does not have any intention to impact other companies in this industry negatively. Jed McCaleb sold off more than 1 billion XRP between 2014 and 2019. Ripple has been accused of selling of XRP to make profits and keeping the price of the token low. According to the report, McCaleb’s wallet still holds over 76 million XRP, with millions of tokens added in settlement payments, added every month.