Due to its continuing conflict with the US SEC, Ripple's native coin, XRP, hasn't done well lately. Jed McCaleb, the company's former CTO, has been selling its holdings every day while the important lawsuit progresses.
McCaleb holds 103 mln XRPs
Over the previous 10 days, more than 40 million XRP coins have been sold, according to Jed Balance, a tracker for keeping track of McCaleb's wallet. Around $15 million worth of tokens were sold overall. The address has been issuing 4 million XRP coins every day on average, according to the statistics.
On June 26, 2022, the tracker's largest transaction was tallied. More than 7.3 million XRP coins, worth around $2.6 million, were issued by the address. Over the previous 20 days, it has sold roughly 72 million holding tokens. The data shows that McCaleb now has 103.53 million XRPs in his wallet.
Jed McCaleb was reportedly one of the founding members of the Ripple. For his pioneering contribution in relation to developing and releasing the coin, he was awarded 8 billion XRP tokens. He left the Ripple in 2014 to concentrate on Stellar (XLM).
Ripple’s token is up by 15% in the last 7 days
Recent announcements by the company led to an increase in Ripple's price. Over the last seven days, the token's price has increased by 14.96% As of the time of publication, XRP is trading at an average price of $0.363. The 24-hour trading volume of the token is increased by 21% to $964 million.
Prices for XRP are still 58 percent down than they were at this time last year. With a market valuation of more than $17.4 billion, the token is still the sixth-largest cryptocurrency.
