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Former Ripple Labs founder Jed McCaleb has finally ended an eight-year streak of “haunting” the XRP community.
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 then executed the “Account Delete” command or permanently deleted 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.
— Rob XRP ️ (@robxrp1) July 18, 2022
“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!”
— XRP whale (57.5k Followers) (@realXRPwhale) July 17, 2022
“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.
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.
Now that Jed has finally sold the last of his XRP it has been estimated that he has earned a total of $3.09 billion and 708 BTC since 2014. Most of his sales occurred after the SEC lawsuit against Ripple, $2,562 billion was cashed out after the 22nd of December 2020. 🌮 pic.twitter.com/PvnoQJEtaz
— Leonidas (@LeoHadjiloizou) July 18, 2022
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