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The co-founder of Ripple Labs and its first technical director Jed McCaleb, who suspended the sale of his XRP coins in September last year, resumed the release of large volumes of XRP on the cryptocurrency market, according to XRPscan data.
Figures provided by the XRPscan platform suggest that Jed McCaleb resumed selling the remains of his huge stock of XRP earlier this year. Since January, it has sold approximately 464.8 million XRP, which at the current exchange rate is $ 186,790,421.
Each week, the number of XRP sold varied from 18 million to 42 million. Over the past three days, it has increased sales by about 140%, selling almost nine million XRP per day, although previously it was limited to four to six million per day.
As Calculated by Twitter user Rafael Ken Aguilar, if the former top manager maintains the current pace of sales, then in about a month he will completely get rid of tokens.
According to XRPscan, there are still 249,200,734 XRP left on Jed’s tacostand wallet. The site, created by the XRP community to track McCaleb’s assets, shows a slightly larger figure of 257,858,264 tokens.
That’s all that remains of the nine billion XRP transferred to McCaleb by Ripple’s management when he left the company a year after it was founded.
Depending on McCaleb’s degree of activity, his XRP could end on either July 14 or August 8.
At the time of writing, the sixth largest cryptocurrency by market capitalization, XRP, was trading at $0.4051 (on CoinGecko), showing a 5.3% drop in the past 24 hours.
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