The former Ripple CTO’s XRP dumping spree persists, but there’s a catch.

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Many crypto millionaires and a few billionaires were created at the height of the 2017 bull run. Jed McCaleb was one of the few who made it to the Billionaire club as a result of his early contributions to Ripple. When he wanted to quit Ripple, he got approximately 9 billion XRP in compliance with his ‘exit’ kit and had signed a deal with Ripple to insure that no large XRP dumps occurred.

Over the years, Jed McCaleb has slowly been dumping his XRP bag. The former CTO has yet again has moved another significant amount of XRP according to data from XRPscan. But this dumping session took an unusual route as compared to his previous ones.

As seen in the screenshot provided by Bithomp, over a period of 6 days, Jed dumped 111 million XRP from his “taco stand” wallet. The aforementioned transactions mainly comprised of the following transactions:

Source: XRPScan

What’s different this time?

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One noteworthy transaction is that McCaleb got 442,127,865 XRP from Ripple Labs on May 1 after his sale spree.

Source: XRPScan

XRP enthusiast and Blockchain researcher, Leonidas Hadjiloizou had monitored McCaleb’s previous XRP sales and tweeted about the dumps regularly on various occasions. This time was no different; he stated:

 

“Jed will be selling 17.3 million XRP per day, slightly less than the 18.5 million XRP sold in the previous week,” he says. He assumes that at the present pace, the former Ripple CTO will have zero XRP in his pocket by the end of the season.

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