Jeb McCaleb has not sold any XRP since August 2017

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Jeb McCaleb has not sold any XRP since August 2017

According to the website jed.tequ. Jeb McCaleb, the co-founder of Ripple, hasn't sold any XRP since the end of August this year. This is one of the most prolonged periods in which he hasn't offloaded his holdings.

The last sale took place 12 weeks ago, where he transferred less than eight and half million XRP to Bitstamp to sell.

Jeb McCaleb is a prominent figure in the criptocurrency industry and co-founded Ripple in 2011 while also creating the Mt. McCaleb was Ripple's first-ever CTO, but disagreements with fellow co-founders saw him leave in 2013. It was reported that inappropriate relations with a Ripple Labs employee, Ms. Kim, and her subsequently leaving caused a rift in which he lost interest in building up the firm.

In a blog post dated October 2017, current Ripple CTO David Schwartz reframed the situation, saying McCaleb had unjustifiably betrayed his workforce and investors. It is not unusual for founders to be forced out in situations of betrayal.

At the time of leaving, McCaleb owned 9 billion XRP, and instead of rubberstamp letting him leave with unrestricted access to the lot, Ripple negotiated a deal stipulating the amount he could sell to prevent massive oversupply.

After he broke that deal in 2016, a new agreement was renegotiated in which he would donate 2 billion XRP to charity, and the remaining 5.3 billion would be placed in Ripple custody with rules on how much he can sell based on a percentage of average daily volume.

In over three weeks, there was no token sold.

On September 1, the last payment received from Ripple occurred for 174,862, 720 token, according to an analysis of McCaleb's tacostand wallet.

The current holdings on the tacostand wallet come in at 709,911, 488 XRP, valued at around $731 million at today s price.

Since his last transfer on August 31, McCaleb hasn't sold any XRP, leading to speculation about his current reasons for not selling.

The performance of XRP since September 1 has been somewhat stagnant. On September 6 there was a peak price of $1.39. The price was close to $0.87 two weeks later, a downtrend since then.

A series of higher lows has given hope of a revival, but the past week XRP has been caught in a tight trading range between $1.02 and $1.10.