A report detailing how Ripple Founder and former CTO, Jed McCaleb, has been selling parts of its XRP holdings, says the “artificial whale” holds around 5% of total existing XRP to sell.
In a detailed report by Whale Alert, the cryptocurrency whale was chased to all his XRP addresses with analysis made to highlight the amount of XRP the Ripple founder has sold.
Whale Alert says it reported in September 2019 how Ripple sent 100 million XRP ($28,334,998 US Dollar) to McCaleb’s wallet.
The payment transfer was a result of a settlement agreement between Ripple and McCaleb where the two agreed on how to sell some of the assets held by the founder.
That time, McCaleb claimed to be given 9 billion XRP tokens that are locked in different addresses at the start of the Ripple ledger.
Whale Alert said it attributed the genesis and other addresses to McCaleb, as reflected in three posts (his blog, XRP Talk and Ripple’s forum), that have been taken down, and some other available in information on the public ledger.
The crypto alert platform says it studied nothing less than 90,000 transactions, and close to 8 billion XRP were tracked to Ripple, a settlement account and personal accounts belonging McCaleb where he does every time transfer.
Within 5-6 years (2014 -2019), McCaleb, altogether, has sold around 1.05 billion XRP, most time through Bitstamp at an average of 0.129 cents/XRP, making $135 million in total.
As well, he transferred a large portion of his assets to Ripple Labs Inc., and nothing less than 140 million XRP was donated in charities. In January 2020, McCaleb sold 19 million XRP.
As revealed by Whale Alert, around 4.7 billion XRP, approximately 5% of total existing XRP, is in McCaleb’s possession and could be sold at any time, this is largely due to the fact that the agreement made by McCaleb and Ripple will likely expires around 2020.
Before, his worth stayed around $45 million USD and will take him 20 years to completely sell off everything in his possession at the currency rate.