Ripple Transferred Approximately 40 Million XRP

22 August 2020

in XRP

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San Francisco-based blockchain giant Ripple has recently become one of America’s most popular business magazines, Inc. ranked among the fastest growing companies. Ripple, which ranks 123th among 5,000 companies according to the magazine’s ranking, reported that it has transferred 39.5 million XRP in the last 24 hours.

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In the transfer, announced by XRPL Monitor, it was reported that a large amount of XRP was sent to former Ripple CEO Chris Larsen’s wallet. At the time of this transfer, Jed McCaleb, one of Ripple’s co-founders and left the company in 2013, cashed in a large amount of XRP in his wallet.

The market value of 39.5 million XRP made by XRP, which is the third largest crypto currency in terms of market value, is approximately $ 11 million.

The amount of XRP transferred to Ripple’s former CEO Chris Larsen’s wallet is 14.5 million units.

In addition, 2 7.5 million XRP transfers were made by Ripple to the Coinbase Pro exchange. These transfers are thought to be the transfers made by the company with the aim of obtaining fiat money.

On the other hand, Ripple’s former technical team officer Jed McCaleb, who had a great impact on the establishment of Ripple, turns the XRPs he bought from Ripple into cash, as an advantage of his agreement with the company. The former CTO, which recently cashed 6.1 million XRP into cash, received another payment of 60 million XRP from Ripple earlier this week.

The former CTO, which regularly cashes its XRPs into cash, is gradually selling relatively small amounts of XRP so that the XRP price is not affected.

Although Ripple managers are gradually selling their assets in order not to affect the XRP price, these sales are viewed negatively in the XRP community. The fact that Ripple’s founders are offering their assets for sale at every opportunity, rather than keeping their assets for longer term, is annoyed by the crypto community.