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While the legal battle between the SEC and Ripple Labs continues, Ripple and its high-profile executives keep transferring large amounts of XRP tokens.
Chris Larsen and exchanges shift 136.8 million XRP
Over the past 24 hours, a whopping 136.8 million XRP has been transferred by Ripple cofounder Chris Larsen, Uphold and a few more exchanges, according to data presented by Whale Alert.
This amount of XRP is equal to 61,786,457 in fiat USD.
Uphold wired 19 million XRP to Ripple's FundingWallet1, activated by Chris Larsen. The Ripple cofounder and its former CEO then transferred 74,270,167 XRP between his wallets—an amount of crypto equal to $35,170,853.
Jed McCaleb sells 108.3 million XRP in the past week
Data obtained thanks to XRPscan shows that, over the past seven days, the other Ripple cofounder, Jed McCaleb, sent a mammoth 108.3 million XRP tokens to be sold.
This is an equivalent of $252.3 million. Another 537 million XRP remained on the balance of his "tacostand" wallet on Wednesday.
The community believes that McCaleb has less than three billion XRP left and, at the current selling rate, he is likely to get rid of all of his XRP tokens by the end of 2021.