#XRP sales continue at full speed!
XRP, the fourth largest cryptocurrency by total market cap, may be correcting and being forced to live, after its recent rise.
🚨Ripple Labs Founder Continues Sale
#Jed #McCaleb, one of the founding partners of Ripple Labs , is leading this situation and is preparing to make heavy sales again. McCaleb left #Ripple, of which he was his first #CTO, with a significant founding share and still continues to sell the XRPs he holds.
It turns out that Jed McCaleb has now sold 140 million XRPs, corresponding to $ 194 million. #Blockchain researcher Leonidas Hadjiloizou stated in a statement on the subject that McCaleb is very close to ending the XRPs in his hands.
🚨140 Million XRP Sold
According to XRPscan data, the famous name transferred 140 million XRP from his wallet called "tacostand" and made the first of these transactions on April 8. It is seen that the transactions have continued intermittently since April 8.
In the continuation of XRPscan data, it is seen that McCaleb has sold 22 million XRP even today alone. This may have affected the price on a volume basis of $ 31 million. Looking at the 24-hour volume of XRP, it seems to be $ 15 billion, and such a low amount of sales cannot create sales pressure as expected. However, despite this, the effect of the news that McCaleb continues to sell and the FUD can cause the volume to grow suddenly with a snowball effect.
🚨When Will McCaleb's XRPs End?
Looking at McCaleb's wallet, it is seen that he has 453,861,016 XRP left. The Tacostand wallet was activated in 2013, and the famous name has been selling it periodically since then. In 2021, it is seen that these sales increased and McCaleb's XRPs decreased significantly compared to the commercial volume.
Jed had a total share of 9 billion XRP and managed to reduce this to 450 million by selling 9 billion XRPs at regular intervals. Leonidas, on the other hand, expects the XRPs in the hands of the famous name to end at the end of 2021. Of course, the commercial volume must continue for this. McCaleb can only sell XRPs by volume, and if the volume is low, the amount of XRP he can sell decreases.
The XRP price is trading at $ 1.34 at the time of this writing and is experiencing the effects of the general decline of the market.