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HomeAltcoins NewsWhale dumps 5 million XRP on the market and abandons the project

Whale dumps 5 million XRP on the market and abandons the project

A whale of XRP has finalized its sales on the market, after liquidating its last five million of tokens in the last few days. The whale was a problem for the XRP community, as in recent years there have been several million dollar sales made in the market.

The whale in question is Jed McCaleb, an engineer who helped co-found Ripple in its early days. Over time, he ended up abandoning the project and entitled to receive his share of participation.

McCaleb was prohibited from selling everything at once so as not to cause abrupt movements in the market, and he had to liquidate his positions calmly.

Whales are big players that have a lot of coins and can cause aggressive drops if they decide to sell too much at once.

After leaving Ripple, Jed founded Stellar (XLM), a project that today occupies the 28th position in the cryptocurrency market cap, but which was once among the top ten.

Ripple Whale Sells Last 5 Million In XRP And Leaves Project Forever
In order not to liquidate everything at once as had been determined by the court in previous years, Jed McCaleb only liquidated a portion of his XRP earnings per month.

Last Friday (16), he was caught liquidating 4,215,319 of XRP valued at $1.5 million. This transaction went from his famous “tacostand” wallet to the address that acquired the value.

On Saturday (17), Jed ended his story with the project he helped create, by selling his last million tokens, 1,108,826 of which are XRP, valued at $400,000 today.

With the sale of its last million tokens then, the attentive XRP community said it was time to celebrate, as the Ripple whale journey was a headache for that community.

Still kept a memory

Data shows that Jed McCaleb sold his millions and in his address there are only a few units of XRP left, among which is the minimum deposited in a wallet that has been locked since creation. That is, the whale still keeps some last souvenir coins.

It is noteworthy that after the completion of Jed’s sales, many users sent small amounts of XRP to his address with several messages, some even showing support for the now ex-XRP whale, as well as wishing him good luck, who now has a few million of dollars to spend.

XRP Fans Wished The Now Ex-Ripple Whale Who Sold His Last Million Good Luck
XRP fans wished good luck to the now ex-Ripple whale who sold her last millions.

Publicly, Jed has not commented on the end of his sales and remains focused on moving away from the project he helped found in the past.

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