Jed McCaleb, the co-founder and former Chief Technical Officer of the fintech company Ripple, seems to have completed his notorious dumping of XRP tokens, with a wallet he controls currently displaying a balance of XRP 47.7, or little more than 17 US dollars.
According to the blockchain explorer XRP Scan, McCaleb’s “tacostand” wallet performed its final outbound transaction on Sunday at 18:31 UTC, when XRP 1.1m (USD 404,000) departed the wallet.
The transaction was followed by an “ACCOUNT DELETE” transaction, indicating that the user paid a higher-than-usual transaction fee to delete an account from the XRP Ledger.
Jed McCaleb has routinely traded tokens from his wallet, which previously had around 9 billion XRP tokens. The co-founder of Ripple began selling his coins after leaving the company in 2014. Later that same year, he established the alternative payment mechanism Stellar (XLM).
McCaleb co-founded Ripple in 2012 with Chris Larsen and Arthur Britto under the moniker OpenCoin.
The tokens moved from McCaleb’s wallet throughout the years constitute a staggering 18.6% of the total circulating XRP supply and contribute to a decline in the XRP price.
Unsurprisingly, the XRP community greeted the news that the co-founder of Ripple is no longer selling with enthusiasm.
At 11:47 UTC on Monday, XRP was trading at USD 0.3658, up 4.3% over the previous 24 hours and 12.3% for the last seven days. It is up more than 13% in a month, down almost 40% in a year, and 89% from its all-time high in January 2018.
The moment we have all waited for is finally upon us. @JedMcCaleb has finally emptied his taco stand. His dumping of $XRP is now over after many years. Party time!!! 🎉🎉🎉 https://t.co/lS9kfCf98A
— Rob XRP ☀️ (@robxrp1) July 18, 2022