Finally, Jed McCaleb Announces Stop Dumping XRP, How Does It Affect Ripple Prices?

Jed McCaleb stopped dumping XRP. (photo: doc. Ripplecoinnews)

JAKARTA – Former Ripple (XRP) official Jed McCaleb, who founded Stellar Lumens (XLM) announced that he will not sell his remaining 5 million XRP crypto holdings. McCaleb conveyed this information in an interview with CTC News.

For your information, McCaleb has continued to sell his XRP in recent years. He sold XRP after leaving Ripple and founding a new competitor to the cross-border payments company, XLM.

He explained that the remaining 5 million XRP would be used as a security fund for his family. That means McCaleb will stop selling his previous XRP holdings that have fueled its price decline in recent months.

McCaleb's dumping action was carried out by him since last year. The former Ripple Chief Technology Officer revealed that his dumping had ended.

Jed McCaleb got a total of 8 billion XRP from Ripple because he decided to leave the company. He has sold his holdings for several years, and currently McCaleb only leaves 5 million XRP in his crypto wallet.

“If you think about it, it would be pretty stupid if I sold the whole thing, I mean, what if it actually went to $589 per token? I can be rich!” McCaleb said, quoted from CTC News.

Some time ago, McCaleb's XRPscan wallet only had 2.77 million XRP. However, he added another 2.8 million XRP. McCaleb realized he wasn't going to sell all of his XRP assets.

"I don't know, maybe this inflation, maybe the cost of gas, you know, but I just have a feeling that holding onto this leftover XRP will make me and my family safer," McCaleb said.

Meanwhile Ripple's trial with the US Securities and Exchange Commission is still ongoing and will take more than a year. According to a recent report, Judge Sarah Netburn has dismissed the SEC's appeal.

Judge Netburn urged the SEC to provide all documents related to William Hinman's official speech claiming that XRP was a security. The judge also considered the SEC to be hypocritical because it tried to cover up the contents of the SEC official's speech.