Good news: After 8 years, Jed McCaleb is no longer an XRP obsession!

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2022-07-19 18:36:49

Former Ripple Labs founder Jed McCaleb has finally ended an eight-year streak of “haunting” the XRP community.

Good news: After 8 years, Jed McCaleb is no longer an XRP obsession!

Jed McCaleb is a well-known figure in the crypto industry, co-founding Ripple in 2011 and the first CTO of Ripple Labs. Due to internal conflicts, he left Ripple Labs in 2014 and founded Stellar as a rival to XRP.

To make the breakup go smoothly, the Ripple company accepted to compensate McCaleb 9.5 billion XRP. To avoid selling pressure in the market, Ripple will unlock these tokens regularly at the beginning of each month.

Since then, the name Jed McCaleb has become an obsession of the XRP community. Because usually when he receives the token, he quickly sells it to the market, leading to a strong XRP dump.

But then every story has to come to an end.

At the beginning of July 2022, CHK reported wallet “Tacostand” Jed’s is about to run out of XRP to “discharge”. The community then predicts that at the current selling rate, Jed could run out within the next two to three weeks.

And that prediction was absolutely correct.

Follow XRPscanJed made the last XRP transfer at 18:30 on July 17, 2022, transferring 1.1 million XRP tokens worth approximately $394 million.

Jed McCaleb’s Last XRP Transfer Order. Source: XRPscan

Jed then executed the “Account Delete” command or permanently deleted his “Tacostand” wallet.

Jed McCaleb permanently deletes his Tacostand wallet

As such, this action indicates that there will be no more XRP dump orders from the former Ripple Labs CTO. The XRP community was able to breathe a sigh of relief.

“And the moment we have been waiting for has arrived! The obsession called “Jed McCaleb dumps XRP” after all these years is finally over.

Come on, XRP brethren!”

“HOT: Jed McCaleb has sold out the last 5 million XRP tokens.

Now you have more XRP than him.

XRP to the moon!”

XRP price is trading around $0.365, having increased by nearly 4% in the past 24 hours.

4H graph of XRP/USDT pair on Binnace exchange at 05:50 PM on July 18, 2022

It is estimated that after 8 years of non-stop “discharge” of XRP, Jed McCaleb has collected more than 3 billion USD. However, since most of the money was sold after Ripple was sued by the SEC, McCaleb’s profits could have been much larger.

Synthetic CHK

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