Ripple (XRP) has been losing momentum in recent days and is trading in a bearish trend at the time of writing. However, according to experts, giant whales could lower the coin even more with new sales. While 25 million XRP was recently carried by Ripple, the company’s co-founder and former CTO Jed McCaleb continues to cash some of the XRP assets in his wallet.
25 million XRP moved by Ripple! What’s going on?
Blockchain giant Ripple transferred 25 million XRP, according to the XRPL Monitor bot. It was also revealed that Ripple ‘s co-founder Jed McCaleb was moving to convert some of the XRP he received from Ripple to fiat. Two transactions were identified, each with 5.1 million XRP. At the same time, XRPL Monitor revealed two important XRP transactions made by the blockchain startup Ripple: in the amount of 10 million and 15 million. The total amount Ripple has sent is $ 6,971,591. Most of these XRPs were sent to BitGo.
The blockchain startup has over 300 customers, along with major banks and other financial firms that buy certain amounts of XRP from Ripple as part of their deals. In an interview last year, Ripple CEO Brad Garlinghouse told the community that Ripple customers are facing restrictions on cashing out the XRP they receive. The second transaction, carrying 15 million XRP, was made from the Ripple wallet to an anonymous address that was also activated by Ripple.
Ripple’s co-founder and former CTO Jed McCaleb left the company in 2013 and founded Stellar Lumens. Stellar Lumens owns XLM tokens and follows very similar goals to Ripple: in particular, it improves the payment system for banks and financial institutions. As part of the deal, Ripple regularly sends some of the XRP to Jed McCaleb.
Jed McCaleb XRP from time to time in the hands of rehkzcz5ndjm9bzzmmkrtvhxpnswbyssdv from the rlkmjysvwhmummqrzpvrw by sending this crypto is cashing in coins. According to the latest data, Jed McCaleb has released another 10 million XRP to the market. Ripple, the third largest cryptocurrency, is trading at $ 0.28, down 5 percent at the time of writing. The strong altcoin currently has a market cap of $ 12.7 billion.