Jed McCaleb, the former creator of Ripple Labs, has finally stopped selling off all of his Ripple (XRP) assets after eight years, and now only has 46.7 XRP in his infamous “tacostand” wallet.
The former creator of Ripple sent out his final payment of 1.1 million XRP, valued at $394,742.18, at 6:31 AM UTC on Sunday, as per blockchain explorer XRP Scan.
The account showed an “ACCOUNT DELETE” transaction a few hours later, indicating that it will be deleted from XRP’s ledger.
The final transaction puts an end to the Ripple sell-off spree
The transaction completes a 9 billion XRP sell-off McCaleb started in 2014 after leaving Ripple Labs to co-found the competing Stellar payment technology.
The crypto community has welcomed McCaleb’s releases throughout the past eight years, which make up about 18.6% of the total XRP quantity that is now in circulation.
On Twitter, XRP whale, an advocate for the cryptocurrency, said to their 57,500 followers that after the last sell-off, it is now possible to hold more XRP than McCaleb.
Some were led to assume on Friday by a parody piece from The Crypto Town Crier that McCaleb had chosen to save his final five million XRP “just in case it moons.”
McCaleb, who has sold several billions of XRP since leaving Ripple in 2014, claimed he suddenly realized he couldn’t let the remainder of his assets go on Thursday night after waking up in a cold sweat.
Where truth counts more than accuracy is the slogan of the parody news website The Crypto Town Crier. XRP is now trading at $0.3652, an increase of 4 percent over the previous day. Since reaching an all-time high of $3.84 in January 2018, the asset has decreased by over 90%.
Since late 2020, the United States Securities and Exchange Commission (SEC) has initiated a lawsuit against Ripple Labs, alleging that Ripple and its officials sold XRP as an unregistered security.