XRP scan shows that the wallet of Ripple founder Jed McCaleb only has a balance of 16 USD.
The former founder of Ripple Labs, Jed McCaleb, has now made it so far after eight years of sales that there are only 46.7 XRP in his XPR wallet.
According to XRP scan, McCaleb made his last XRP transfer of $1.1 million XRP worth $394,742.18 on July 17.
Hours later, the account showed a ”delete account transaction”, which means that the account no longer exists in the ledger of XRP.
The transaction marks the end of a sale of 9 billion XRP initiated by McCaleb after he left Ripple Labs. This happened in 2014, when he co-founded the payment protocol Stellar.
The amount that McCaleb has released over the past eight years represents about 18.6% of the total circulating supply of XRP, which has been well received by the XRP community.
XRP proponent “XRP-Wal” wrote on Twitter that with the last sale you can finally own more XRP than McCaleb.
The price of XRP is $0.365 at the time of writing, which is an increase of 0.82% over the past 24 hours. XRP is down nearly 90% from its January 2018 all-time high of $3.40.
Ripple Labs has been involved in a lawsuit filed by the US Securities and Exchange Commission (SEC) since the end of 2020. The SEC alleges that Ripple and its executives offered XRP to investors as an unlicensed security.
Last week, the SEC suffered a blow after a US judge ruled that the SEC must provide internal documents related to the Hinman speech, which could be a crucial piece of evidence in support of Ripple’s defense.
If Ripple wins the lawsuit, it could set a precedent that several crypto token issuers could benefit from. Many assume that this would also drive the price of XRP up enormously.
