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July 3, 2022

Jed McCaleb’s Ripple stash may run out this year

Former Ripple Labs CEO Jed McCaleb had just 81.53 million XRP coins remaining to sell after selling billions of XRP tokens in 2014. McCaleb’s supply was predicted to run out in May of that year by the middle of February 2021. Selling went longer than expected, but the current data suggests that just $26 million is remaining.

When Ripple co-founder Jed McCaleb departed the firm in 2014 and founded Stellar, it was well known that he was holding billions of XRP.

XRP was being sold in big sums by McCaleb in February 2021 according to sources. According to xrpscan.com, McCaleb’s “Tacostand” wallet sold 38 million XRP, or $22 million, on February 14.

In May 2021, if the selling continued at its current pace, McCaleb’s XRP supply would be depleted. There was a slowdown in purchases, and McCaleb’s wallet still contains around $25 million worth of XRP.

McCaleb continues to dump XRP, as seen by the 22,007,874 XRP sold in three days on June 29, 2022, according to an observer. At the time of his departure from Ripple, McCaleb had around 9 billion XRP in his possession, and he has been selling them ever since.

To keep the XRP price stable, Ripple and McCaleb had an arrangement in place where the former Ripple executive would lock part of his cash. McCaleb sold $1.22 billion worth of XRP in February 2021 alone.

Even Nevertheless, McCaleb ceased the ‘Tacostand’ selling when the SEC initiated a complaint against Ripple. Despite this, It was initially authorized to sell 1 billion XRP per year between 2018 and 2019, and then it was increased to over 2 billion XRP by 2020.

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According to data compiled and tracked by a web page, McCaleb sold 2.74 billion XRP in 2021. McCaleb sold 627 million XRP this year, according to statistics.

Unless McCaleb takes a break from selling XRP for many months, his stockpile of XRP may be depleted by the end of the year after he’s sold 627 million XRP so far this year.