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During the last few weeks, the former Ripple executive Jed McCaleb has reportedly been selling millions of XRP<\/a> tokens and every sale has been monitored by the public. On Sunday, McCaleb dumped another 38 million XRP<\/a> worth $22 million after selling 95 million XRP<\/a> last week worth $56 million today.<\/strong><\/p>\n The cofounder and former Ripple executive, Jed McCaleb has been a topical conversation in recent days since the founder has been selling a lot of XRP<\/a>. News.Bitcoin.com has been covering a number of McCaleb\u2019s XRP<\/a> sales in December 2020<\/a> and into January 2021<\/a>.<\/p>\n During the month of February, it has been no different, as reports have been showing McCaleb\u2019s alleged wallet called \u2018Tacostand\u2019 making regular sales. In our last report, news.Bitcoin.com explained that the analyst Leonidas Hadjiloizou has been monitoring McCaleb\u2019s XRP<\/a> sales and tweeting about the dumps regularly.<\/p>\n On Sunday, February 14, otherwise known as Valentine\u2019s Day, McCaleb sold even more XRP<\/a>. The website called xrpscan.com<\/a> shows that the former Ripple executive\u2019s \u2018Tacostand\u2019 wallet sold 38 million XRP<\/a> worth $22 million. Hadjiloizou tweeted about this event, and he believes that McCaleb will be selling more this week.<\/p>\n Hadjiloizou said:<\/p>\n Jed will be selling 38,345,406.53 XRP<\/a> per day this week. This amounts to roughly 268 million XRP<\/a> or $166M at current prices in 1 week. At this rate, his 2.896 billion XRP<\/a> would run out by May. At half that rate (19M per day) he would run out by mid-July. At 10M per day by the end of the year.<\/strong><\/em><\/p>\n<\/blockquote>\n <\/ins> <\/ins> <\/p>\n McCaleb\u2019s sales have followed the recent issues<\/a> the company Ripple Labs has been facing with U.S. regulators. Hadjiloizou noted<\/a> that \u201cJed\u2019s Tacostand had paused XRP<\/a> sales ever since the SEC lawsuit was announced.\u201d But then the Tacostand address began selling again shortly after.<\/p>\n Moreover, in the case of Bradley Sostack vs. Ripple Labs<\/a>, the plaintiff Sostack has filed a motion to compel Ripple to produce improperly withheld email communications between the company and the U.S. Securities Exchange Commission (SEC).<\/p>\n During the first two weeks of February, McCaleb has kept the sales going, while XRP<\/a> has also seen a price spike in the last fourteen days. Before Sunday\u2019s 38 million XRP<\/a> sale, McCaleb dumped 95 million XRP<\/a> last week, and 76 million XRP<\/a> the week prior. That\u2019s just a touch over $1 billion using today\u2019s XRP<\/a> exchange rates. McCaleb is also a notable crypto-billionaire and one of the top 100 wealthiest individuals on earth.<\/p>\n What do you think about Jed McCaleb\u2019s recent sales and the legal troubles Ripple has been dealing with in recent times? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\nRipple Cofounder Sells 38 million Coins on Valentine\u2019s Day<\/h2>\n
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$1.22 Billion Worth of XRP<\/a> Sold in February<\/h2>\n