Former Ripple Co-Founder Ends $9 Billion XRP Dumping Spree

Jed McCaleb ends XRP sell off after eight years.

Jed McCaleb finally executed his last outgoing XRP transfer of 1.1 million XRP on Sunday.

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The transaction marked the end of a $9 billion dumping spree initiated by former Ripple co-founder after leaving the company.

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The amount of XRP that McCaleb has released over the last eight years represents around 18.6% of the total circulating supply of the cryptocurrency.

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Jed McCaleb’s final sell-off is being celebrated by the XRP community.

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Currently, XRP is trading at $0.3655, nearly 14.5% up in the last seven days.

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Ripple is currently entangled in a lawsuit with the US SEC over its native token.

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The US SEC has alleged that Ripple issued unauthorized security in the form of XRP.

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