Jed McCaleb, the Co-Founder and the former Chief Technical Officer (CTO) at the San Francisco-based blockchain payments firm Ripple, has made another massive transaction. According to the latest blockchain data, Ripple’s former CTO has wired an amount of 76 million XRP out of his wallet. Still, he has got a gargantuan amount of XRP in his wallet, the report shows.
Jed McCaleb Transfers Over $42 Million Worth Of XRP
Another massive transfer made by Jed McCaleb has been spotted. This time Ripple’s Co-Founder has moved an amount of 76.3 million XRP from his wallet. He transferred the amount from his wallet, known as “tacostand.”
Collectively, this amount is worth more than $42 million at the current price value of XRP, which is standing at around $0.56. Reportedly, McCaleb transferred this amount of XRP in three different transactions. In one transaction, he moved nearly 38 million XRP. While on the other hand, each of the remaining two transactions carried an amount of 19 million in it. The blockchain data further revealed that these transactions were made in three days consecutively each per day.
Prior to this staggering transaction, McCaleb transferred around 40 million XRP from the same wallet. Despite these massive transfers, he still has got 404 million in XRP in his so-called tacostand wallet. The way McCaleb is moving his XRP holdings, it seems that he will soon make his wallet empty. A cryptocurrency expert from the cryptocurrency community believes that Ripple’s co-founder might run out of his XRP holdings by the end of the current year.
However, it has not been known so far why the former CTO of Ripple is making these transfers. However, some people in the community have speculated that he might be selling all of his XRP tokens.
These transfers made by McCaleb have not influenced the price value of XRP. The sixth-ranked digital currency is trading at around $0.5629, but it is trading down with a change rate of -7.73 percent during the last 24 hours. XRP’s price value is trading in this consolidation range for the past two days. The week is just starting, and there is likely a chance that the coin may get out of this range and jump above the next resistance level of $0.60 in the next few days.