Ripple’s founder stops dumping his XRP bag from second half of January 2019
The legal contract between Ripple and Jed McCaleb stated that he could dump XRP as per the stipulated percentage of the daily volume of XRP. As per details obtained from Bithomp, McCaleb’s account shows that it has stopped dumping XRP since January 22, 2019.The last transaction that took place on January 22, 2019, and a total of 2,167,000 XRP [worth $683,254.70] were dumped with a total fee of 0.000012 XRP. The next significant dump was seen on January 11, 2019, where a total of 134,482.49 XRP [worth $46,222] was dumped on January 11, 2019.Moreover, the deal allows McCaleb to dump XRP equivalent to 0.5% of the average daily trade volume in his first year for each day of every week, even during holidays. The second year would allow 0.75% and the year after that would allow 1%, followed by 1.5% of the daily average trading volume of XRP.The crypto-enthusiasts in the community speculate that there could something going on under the hood with McCaleb’s deal because Ripple was automatically dumping XRP every day and has been dumping since 2016. The community even speculated that there could be a new deal that must have occurred between Ripple and McCaleb.