• XRP Here’s everything you need to know about Ripple’s former executive selling XRP this month

  • Ripple and XRP have recently dominated the news, owing largely to US regulators’ claim that XRP was a security. While the case is still ongoing, the XRP community is concerned about Jed McCaleb (Former Ripple executive) spending his XRP.

    It is no secret that Ripple’s former CTO has been gradually selling his XRP. However, the impact on the XRP price has been hotly debated. Although the sum was not significant enough to cause a price fluctuation, there have been discussions about the XRP price surging once McCaleb finished selling his share of XRPs.

    According to XRPscan, McCaleb’s “tacostand” crypto wallet has transferred nearly 57 million XRP to exchanges, which can be sold at any time.

    There have been 11 outgoing transactions from the wallet since the beginning of the month. These transactions were mostly divided into 4.39 million and 6.55 million XRP sums. This amounted to nearly 57 million XRP, which is equivalent to $51.30 million at the current exchange rate of $0.90.

    Ripple received 1 billion XRP from escrow on August 1st and returned 900 million. Ripple transferred a total of 182.3 million coins to McCaleb’s address from the available funds. The current balance of the “tacostand” wallet was 646.59 million after moving nearly 57 million.

    Meanwhile, XRP’s value has increased by 25% since the beginning of the year. It was trading at $0.8782 at the time of publication, with a market capitalization of $40.81 billion.

    What's your reaction?