Why Jed McCaleb is probably “the fattest XRP whale” of the year 2020

Spread the love

Crypto monitoring service Whale Warning today reported that Jed McCaleb’s projected cumulative XRP holding sales of Jed McCaleb’s co-founder and former CTO of Ripple in 2020 are around $1.2 billion, at $0.20 per XRP. The research team said this would make Jed McCaleb “the fattest XRP whale” who had “the best year to date, despite the “turbulent” times faced by Ripple and XRP, especially in the wake of the latest SEC lawsuit against the company.”

Since the former exec resigned from Ripple, the organisation has moved large quantities of XRP to McCaleb. This payment is part of the settlement agreement, which compensates him for his position as founder.

In September 2019, Ripple transferred 100 million XRP to McCaleb’s wallet below:

More recently, McCaleb obtained 133 million XRP ($48,850,963) from Ripple on 23 December, two days after the SEC complaint – after which the former CTO seemed to have halted its XRP sales:

 

Combined with the remaining 3,274 billion XRP settlement, Whale Warning said McCaleb will now be one of the wealthiest people in the crypto ecosytem.

However, the former CTO reported that it had earned 9 billion XRP at the beginning of the Ripple Ledger.

McCaleb is actively selling his XRP; Whale Alert’s team monitored more than 90,000 transactions and found around 8 billion XRPs to Ripple, his settlement account, and his personal accounts. The picture below displays the key addresses of Ripple concerning the activities of Jed McCaleb:

Image Source: Whale Alert

This describes how McCaleb sold $1.2 billion of XRP for a total of $411 million at an average selling price of $0.34 in 2020. Over the years, its cumulative totals for XRP sold at USD 2.25 billion XRP or USD 546 million. The picture below shows the complete XRP sold for USD by Jed McCaleb.

Image Source: Whale Alert

In addition, McCaleb transferred a large portion of his assets to Ripple and contributed approximately 140 million XRP. He sold another 19 million XRPs in January 2020.

RECOMMENDED READ:  A $20,000 Bitcoin is Possible According to This Bullish Fractal

McCaleb’s remaining assets are valued at 4.7 billion XRP (about 5 percent of the total current XRP) worth more than $1 billion. Whale Warning claimed it would take the exec two decades to sell all of his XRP at the current price of $0.20.

At press time, XRP increased by 1.4 per cent in the last hour and traded at $0.18392. However, its price decreased by 36.5 per cent over the 24-hour period.

 

 476 Interactions,  6 today

READ ALSO:
Bank of Korea’s Governor is the first to criticize the “limitations” of crypto-assets.

In South Korea, there has recently been a large increase in crypto-investments. Unlike in the United States, regulatory authorities in Read more

Bitcoin Price Movement Analysis for 16th April, 2021

Today, the Bitcoin price is plummeting as buyers race to win after it hit an all-time high of $64,945. Bitcoin Read more

The Nigerian Securities and Exchange Commission (SEC) claims that the central bank’s crypto ban has caused business disruption.

The Nigerian Securities and Exchange Commission says it is collaborating with the central bank to develop a regulatory system for Read more

RECOMMENDED READ:  XRP Price Movement Analysis for 15th February 2021
Finance authorities dismiss cryptocurrencies, in the wake of Coinbase’s IPO celebrations

Economic gatekeepers are taking a closer look at blockchain as mainstream coverage of the Bitcoin bubble and Coinbase listing intensifies. Read more

Romanian university intends to consider cryptocurrency payments for admissions fees.

The academic college, which has about 11,000 students, stated that the inclusion of crypto payments was part of a campaign Read more

Bitcoin Price Movement Analysis for 11th April, 2021

Is Bitcoin nearing its peak? It's unlikely. Many on-chain measurements revealed that, although Bitcoin was highly bullish, it had not Read more

Fidelity’s Tom Jessop on why Crypto has reached a “tipping point.”

The crypto market has gained traction as a result of low interest rates and fiscal stimulus, according to a Fidelity Read more

How arrests for attempting to obtain a hitman and a nuclear bomb demonstrate that the dark web is not always anonymous.

Paying with cryptocurrency does not guarantee your safety. Most of the criticisms levelled at cryptocurrencies is that its difficult-to-trace existence Read more

RECOMMENDED READ:  Stellar Lumens Price Movement Analysis for 21st February
Bitcoin, BTT, Dogecoin Price Movement Analysis for 7th April, 2021

Bitcoin was expected to remain above the $55,800-support, a level that coincided with its 200-SMA. BitTorrent Token was projected to Read more

The cryptocurrency market cap has surpassed $2 trillion, making it as valuable as Apple.

For the first time, the total market value of all cryptocurrencies exceeds $2 trillion. According to Goingecko numbers, the total Read more

Why crypto analyst Ben Armstrong says, ‘He Very Confident Bitcoin Will Reach $300K This Year.’

Recently, blockchain expert and influencer Ben Armstrong mentioned Bitcoin in a video posted to his highly popular YouTube channel “BitBoy Read more

Binance Coin, Dogecoin, SushiSwap Price Movement Analysis for 4th April, 2021

Binance Coin predicted that fresher record thresholds will be set in the coming days due to solid technicals. Following a Read more

Leave a Reply

Contact Us