{"id":160585,"date":"2022-07-18T17:03:06","date_gmt":"2022-07-18T17:03:06","guid":{"rendered":"https:\/\/precoinnews.com\/?p=160585"},"modified":"2022-07-18T17:03:06","modified_gmt":"2022-07-18T17:03:06","slug":"jed-mccaleb-finally-offloads-9-billion-xrp-stash-xrp-on-cusp-of-monster-bull-run","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/jed-mccaleb-finally-offloads-9-billion-xrp-stash-xrp-on-cusp-of-monster-bull-run\/","title":{"rendered":"Jed McCaleb Finally Offloads \u20189 Billion\u2019 XRP Stash \u2014 XRP On Cusp Of Monster Bull Run?"},"content":{"rendered":"

Jed McCaleb, the co-founder, and former chief technology officer of Ripple, is done offloading his XRP holdings.<\/p>\n

No More Dumping By McCaleb \u2014 And That\u2019s Bullish<\/strong><\/h2>\n

An eight-year dumping spree has come to a long-overdue end.<\/p>\n

Just days ago, on-chain data showed that Jed McCaleb\u2019s wallet held around 2.77 million XRP tokens. However, his ‘tacostand’ wallet currently shows just 46.7 XRP worth circa $20 left.<\/p>\n

The former founder of Ripple sent out his final transfer of 1.1 million XRP, worth $394,742.18, at 6:31 AM UTC on Sunday, according to blockchain explorer XRP Scan.<\/p>\n

Jed McCaleb, the creator of the now-defunct Bitcoin exchange Mt. Gox, served as the Ripple CTO until 2013 before co-founding the Stellar Development Foundation in 2014.<\/p>\n

But the breakup came with generous alimony. McCaleb was awarded more than 9 billion XRP as part of the compensation plan as one of the project\u2019s main contributors. Although he was forbidden from selling all the tokens in one go, he was free to donate or sell his tokens on a fixed schedule. <\/p>\n

And sell he did. He dumped over 1.2 billion XRP between 2014 and early 2020 alone. McCaleb notably put the brakes on his XRP sales right after the United States Securities and Exchange Commission initiated a lawsuit against Ripple. He, however, resumed the sales shortly afterward.<\/p>\n

XRP On Cusp Of Monster Bull Run?<\/strong><\/h2>\n

McCaleb fully offloading his XRP stash is envisioned to breathe new life into the XRP market and could boost enthusiasm and propel the price of the troubled token higher.<\/p>\n

As one of the Ripple co-founders, his constant dumping created massive controversy for XRP. Now, it has a better chance to flare and reclaim its position as the world\u2019s third-largest cryptocurrency by market valuation. <\/p>\n

Only one hurdle stands in the way of the immense XRP price targets: the ongoing SEC v. Ripple battle. Ripple\u2019s success in the case will undeniably give XRP a gargantuan boost. If the SEC wins, however, reaching enormous highs could remain an impossible dream.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Jed McCaleb, the co-founder, and former chief<\/p>\n","protected":false},"author":3,"featured_media":160584,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nJed McCaleb Finally Offloads \u20189 Billion\u2019 XRP Stash \u2014 XRP On Cusp Of Monster Bull Run? - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/jed-mccaleb-finally-offloads-9-billion-xrp-stash-xrp-on-cusp-of-monster-bull-run\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jed McCaleb Finally Offloads \u20189 Billion\u2019 XRP Stash \u2014 XRP On Cusp Of Monster Bull Run? - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Jed McCaleb, the co-founder, and former chief\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/jed-mccaleb-finally-offloads-9-billion-xrp-stash-xrp-on-cusp-of-monster-bull-run\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-18T17:03:06+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2022\/07\/Jed-McCaleb-Finally-Offloads-\u20189-Billion-XRP-Stash-\u2014-XRP-On-Cusp-Of-Monster-Bull-Run.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/jed-mccaleb-finally-offloads-9-billion-xrp-stash-xrp-on-cusp-of-monster-bull-run\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/jed-mccaleb-finally-offloads-9-billion-xrp-stash-xrp-on-cusp-of-monster-bull-run\/\",\"name\":\"Jed McCaleb Finally Offloads \u20189 Billion\u2019 XRP Stash \u2014 XRP On Cusp Of Monster Bull Run? 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