Jed McCaleb, former Ripple CTO announced recently that he is holding on to his last 5 million XRP tokens “just in case it rallies.”
In a video call first reported by CTC News, McCaleb stated, “If you think about it, it would be really stupid if I sell it all. I mean, what if it really does go to $589 a token? I could be RICH!”
He added, “I dunno, maybe it’s this inflation, maybe the cost of gas, you know. But I just have this feeling that holding the rest of this XRP is gonna give me and my family more security.”
As per recent data from Jed’s tacostand, the former exec reserve is nearly 5 million XRP. McCalebhas dumped several millions worth of XRP after his exit from Ripple in 2014.
The latest revelation is in stark contrast to what prevoius data from McCaleb’s wallet showed.
According to XRPscan, the wallet reflected amount of 2.77 million tokens left, few days ago but was refilled with another 2.8 million XRP.
While the reason for the top-up was not known, many believed that the exec’s holdings was about to get emptied sooner, thus relieving the XRP communuty from “McCaleb’s burden”.
With regards to on-chain analysis of Ripple‘s native token XRP, data platform Santiment recently noted an unusual behaviour.
Ripple Token XRP Saw A Massive Uptick In The Trading Volume
The token’s trading volume trading volume inexplicably surge by a whopping 1,500% to $18.7 billion in the late hours of 15th July, in the midst of rumors of an impending SEC lawsuit settlement.
Although the sudden jump in network activity was short-lived, the move could hint at an upcoming spike in price volatility, Santiment noted.
According to the on-chain analytics platform, roughly 19 billion XRP tokens were traded between 23:00 and 00:00 UTC on July 15. The sudden spike in network activity may indicate an “unordinary” price action for the asset, the firm said.
The token’s trading volume later bounced back to previous levels. It is sailing at around 1.28 billion XRP at the time of writing this post.