Only $16 worth of XRP is still remaining in the former Ripple founder’s “Tacostand” wallet, according to XRP Scan.
Jed McCaleb, the former founder of Ripple Labs, has finally stopped selling off all but 46.7 of his XRP assets, which are now resting in his infamous “tacostand” wallet.
The former founder of Ripple carried out his final outgoing XRP transfer on July 17 at 6:31 am (UTC), for 1.1 million XRP (worth $394,742.18), according to blockchain explorer XRP Scan.
The account showed an “ACCOUNT DELETE” transaction a few hours later, indicating that it will be deleted from XRP’s ledger.
The transaction completes a 9 billion XRP sell-off McCaleb started in 2014 after leaving Ripple Labs to co-found the competing Stellar payment technology.
The crypto community has welcomed McCaleb’s releases throughout the past eight years, which make up about 18.6% of the total XRP quantity that is currently in circulation.
“XRP whale,” an advocate for XRP, tweeted to his 57,500 followers that after the final sell-off, it is now possible to own more XRP than McCaleb.
Some were made to assume on Friday by a parody piece from “The Crypto Town Crier” that McCaleb had chosen to hold onto his final five million XRP “just in case it moons.”
“McCaleb, who has sold multiple billions of XRP since leaving Ripple in 2014, said he woke up in a cold sweat Thursday night and realized he just couldn’t let the last of his holdings go,” wrote the authors behind the satire piece.
Where truth counts more than accuracy is the slogan of the parody news website The Crypto Town Crier.
XRP is now trading at 0.3564, an increase of 0.82 percent over the previous day. Since reaching an all-time high of $3.40 in January 2018, the asset has decreased by over 90%.
Since late 2020, the Securities and Exchange Commission (SEC) has been suing Ripple Labs, alleging that Ripple and its officials sold unlicensed securities to investors by offering XRP.
The SEC’s case against Ripple took a hit last week when a U.S. judge ordered the SEC to turn over internal records pertaining to the “Hinman speech,” which could be a key piece of evidence in Ripple’s favor.
Some people think that if Ripple is successful in convincing the court that XRP is not a security, this decision would serve as a model for other crypto token issuers and drive up the price of XRP.
