Whale Alert has reported that Ripple has transferred $26.3 Million into the wallet of Jed McCaleb.
Jed McCaleb is a co-founder and CTO of Stellar. He is also known as the co-founder of bitcoin exchange Mt. Gox. He has recently received 100,000,000 XRP from the Ripple’s company.
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🚨 🚨 100,000,000 #XRP (26,322,440 USD) transferred from Ripple to Jed McCaleb wallet
— Whale Alert (@whale_alert) September 7, 2019
The users of the cryptocurrency are predicting that if Jed McCaleb sells this stock of XRP on the open market exchange then there is a chance that the price of the token plummets down again.
Jed has also been working as a CTO of the Ripple labs in the company till 2013. Then he resigned from the job and left Ripple. He did get $9 Billion in order to start the company.
In 2014, he also made an agreement, according to which he is not able to sell more than $10,000 worth of XRP in the period of one week. But according to the report of Wall Street Journal, in 2018 he raised the sale amount of XRP.
According to the report of Bloomberg based on the CoinMarket data, the per day sale of Jed McCaleb is 500,000 XRP.
The aggressive sales of the company Ripple have been affecting the price of the coin and the token holders of XRP are not sure about whether the dumping is good or bad.
I'm afraid we're going to massively disappoint you.
— David Schwartz (@JoelKatz) September 7, 2019
Ripple has not stopped the movement of coins into the wallets. Now again it has moved an amount of $26.3 Million into the wallet of Jed McCaleb. This selling and movement of the XRP are plummeting down the price of the token.