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

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

An XRP whale has ended its market sales, having liquidated its last five million tokens in recent days. The whale was a problem for the XRP community, as multi-million dollar sales have been made on the market in recent years.

The  whale in question is Jed McCaleb , an engineer who helped found Ripple in its early days. Over time, he ended up abandoning the project and entitled to receive the participation part of it. McCaleb was forbidden to sell all at once so as not to cause wild movements in the market, and he had to calmly liquidate his positions.

Whales are big players who 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 ranks 28th in cryptocurrency market capitalization, but was once in the top ten.

Ballena sells its last 5 million in XRP and leaves the project forever

In order not to liquidate everything at once as the court had ruled 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 XRP worth $1.5 million. This transaction went from his famous “ tacostand ” wallet to the address that purchased the security.

On Saturday (17), Jed ended his story with the project he helped create, 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 at the time, the attentive XRP community said it was time to celebrate as the XRP whale ride was a headache for that community.

McCaleb kept a memory

The data shows that Jed McCaleb sold his millions and only a few units of XRP remain at his address, including the minimum deposited in a wallet that has been locked since its inception. That is, the whale still has some last souvenir coins.

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

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

Samuel Edwards
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