The #XRP transfer drew backlash.
#Jed #McCaleb, one of Ripple's co-founders and former CTO, continues to take actions that will get on the nerves of XRP investors. At the same time , McCaleb, the founder of Stellar Lumens , is on the agenda again with the transfer of millions of dollars in XRP.
🔥Uploaded Transfer to Ripple Co-Founder
McCaleb, who has become one of the billionaires of the crypto money industry and has acquired billions of XRP because he is one of the founders of Ripple, protects this wealth by selling his XRPs directly to XRP investors. The presence of McCaleb on the opposite side of the last transfer of 408 million XRP made by Ripple, therefore, increased the fear and reactions.
According to data shared by #Whale #Alert, millions of #XRP from #Ripple #wallets were #transferred directly to McCaleb's wallet. It seems that Ripple has also made heavy transfers, but undoubtedly the most feared is associated with the former co-founder.
🔥Half a Million Dollars of XRP Sent
Looking at the Whale Alert data, the total amount transferred, seen at the unit price at the time of the transfer, is more than 420 million dollars. Ripple, which made such a large transfer in a single transaction, drew the reaction of XRP investors. Looking at the comments under the relevant post, it is seen that the pressure on the transfer and Ripple has increased.
According to the agreement Jed McCaleb made with Ripple, he will not be able to sell these XRPs in one go. The former co-founder is able to sell according to the trading volume of XRP and washes the tokens locked in his wallet on users at certain rates every day. It is seen that McCaleb has already started the transactions by sending 16 million XRP to the sales wallet.
🔥Jed McCaleb Will Sell XRP Today Too
Jed McCaleb can sell 16 million XRP today, but considering the trade volume, it's unlikely to affect the price. However, the reactions of the investors and the psychological pressure created can have bad consequences for XRP investors.
As of the writing of this article, it is seen that there are 633,699,648 XRPs in the wallet of Ripple's founding partner. This is a separate asset that he owns from the rest of his tokens locked in Ripple wallets.