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Ripple Co-Founder Jed McCaleb Has Sold About 500 Million XRP In 2022. Here’s His Wallet Balance

According to data from XRP Ledger explorer XRPScan, Ripple co-founder Jed McCaleb has sold 499.5 million XRP in 2022.

At the time of writing, his “~tacostand” wallet is holding a total of 214.5 XRP tokens, which is the leftover of 9 billion XRP he received for being a co-founder after parting ways with Ripple.

Over the past week, he has massively increased his selling rate and might be done with selling completely in less than 30 days, according to a crypto proponent.

Read Also: CryptoLaw Founder Shares 16 Facts That Prove the Case Will End In Favor of Ripple and XRP

Going by the data, McCaleb initiated his most recent sale on 28th May 2022, and the transaction carried a total of 8,657,382 XRP.

Ripple Co-Founder Jed McCaleb Has Sold About 500 Million XRP In 2022. Here’s His Wallet Balance
Source: XRPScan

Jed McCaleb and Ripple Labs

Jed McCaleb started working on Ripple back in 2011 and was part of the founders when it launched in 2013. But later abandoned the project in 2014 to work on Stellar Lumens (XLM).

When departing the company, he was awarded about 9 billion XRP tokens for developing and co-founding OpenCoin, which was later rebranded as Ripple.

McCaleb received the whopping funds on a fixed schedule and made it clear that he plans on selling all the funds. Since then, he has been selling the tokens from time to time. And this year alone as aforementioned, he has sold a total of 499.5 million XRP tokens worth $192.4 million at current prices.

Read Also: Ripple-SEC Case: Two Legal Memos Unsealed Show That XRP Does Not Constitute a Security

Despite the ongoing lawsuit between Ripple and the United States Securities and Exchange Commission (SEC), McCaleb continues to sell his XRP-holding in millions.

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If he maintains the selling amount and rate, the Ripple co-founder is expected to run out of XRP in his “~tacostand” wallet on the 14th of July or the 8th of August 2022.

At the time of press, XRP is trading at $0.385, with a 0.10% price downtrend in the last 24 hours, according to CoinMarketCap.


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Solomon Odunayo
Solomon Odunayo
Solomon Odunayo is a cryptocurrency journalist with over 3 years of experience in the crypto industry. He's sternly interested in covering developments of emerging and established blockchain projects.
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