As per some sources, Ripple’s Co-founder Jed McCaleb has sold nearly 240 Millions XRP tokens this month and still he has a balance of 431 Millions in his tacostand wallet. Jed started working for Ripple back in 2011 and was in the founding team of the company when it was finally launched in the year 2013. Though, he left Ripple in the year 2014 to join Stellar (XMR) coin project but received 8 million XRP tokens from the company for his contribution in developing OpenCoin which was later re-branded to Ripple.
Ripple Co-Founder Has Sold 240 Million XRP Tokens This Month
On XRP talk, the co-founder said that he receives the fund on a monthly basis and that he will sell the fund he receives. He said that he has already contributed so much for donations and now its time for him to do something for himself and since then he is selling his XRP tokens periodically.
He told that till now he has sold 240 million XRP tokens on an average price of $0.61 as the token was trading around this price and presently he has a balance of $148 millions in his tacostand wallet. He told that 2018 was the year when this cryptocurrency was trading high at $3 and then to $2 this year’s high.
This price of XRP is also fluctuating a lot because of Bitcoin. As Bitcoin’s mining leaves carbon footprints, so mining of it has been made illegal and because Bitcoin’s price graph is going down so it is also affecting other major cryptocurrencies. Ripple which is the largest holder of XRP cryptocurrency has reiterated its intentions that by the end of 2030 it will be carbon neutral.
We are witnessing a lot of fluctuation in the crypto market. Major cryptocurrencies are in red and are trading below expectations. Still Jed was able to sell his 240 Million XRP tokens but the XRP team is facing a lot of problems because of queries by U.S. Securities and Exchange Commission’s (SEC’s). Though the team has won the battle in the court but the case is still not terminated.
Today XRP is trading at $0.594707 down by 7.18%. For more such updates, stay connected with the page.