Ripple Former Co-founder Once Again Receives A Huge Sum Of XRP 

Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.
  • The former co-founder of Ripple, Jed McCaleb once again received a large amount of XRP yesterday.
  • However, this surprised transaction is a point of concern for XRP investors.
  • Besides this, on 01 May, McCaleb had received over 55 million XRP from Ripple.

The former co-founder of Ripple, Jed McCaleb once again received a large amount of XRP yesterday. According to the transaction details of the blockchain explorer Bithomp, McCaleb obtained around 79.7 million XRP, which worth approximately 16.3 M USD. This amount transferred to his publicly known wallet address.

Ripple XRP
Source: https://bithomp.com/explorer/rEhKZcz5Ndjm9BzZmmKrtvhXPnSWByssDv

XRP investors are worried about the transactions

However, this surprised transaction is a point of concern for XRP investors. McCaleb is one of those personalities of Ripple that very frequently liquidates its holdings in Fiat. While making a constant pressure on the market.

Additionally, one report disclosed that the former founder sold around 82.5 million XRP in May which is equal to 2.66 million XRP per day equivalent to approximately $550, 000.

Besides this, on 01 May, McCaleb had received over 55 million XRP from Ripple. The disbursements were based on the agreement presented to McCaleb for co-founding Ripple.

McCaleb’s sales are controversially discussed  in the community

Apart from this, the present Stellar CTO’s XRP sales are always a buzz around the crypto ecosystem. Recently, a blockchain transaction tracking firm WhaleAlert introduced a report on McCaleb’s XRP sale. According to the report, over the past five years, he sold USD 135 million worth of XRP with an average price of USD 0.129.

Previously, McCaleb was head of Ripple, but due to certain differences with Chris Larson, he left the company in 2014. While Chris Larson is the current managing director of Ripple. At the time when McCaleb left the position, he received 9 billion XRP.

Notably, as per McCaleb, his XRP liquidations do not have any impact on the price of XRP.

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