A Researcher Reveals When Ex-Ripple CTO Will Run Out Of His XRP
The XRP price has been on a roller coaster ride in the past few weeks. With more and more regulatory uncertainty around the asset, XRP seems to have been on the losing side of the trade. However, a trading algorithm was able to predict when former Ripple CTO David Schwartz was going to run out of his XRP, after he sold all of his XRP holdings.
It was amazing to watch the price of Ripple’s XRP token double in value in just a year’s time. But, it’s not a good thing for the company, whose ex-CTO recently announced that he is running out of the currency, as he plans to convert it to Bitcoin. Ripple’s XRP is the third most valuable cryptocurrency, but the largest by market cap, and the company has been pushing hard to expand and acquire more companies.
One of the analysts who has been following the cryptocurrency market for a long time has once again taken notice of Ripple and its founder, Chris Larsen. However, this time, his prediction about the end of Larsen’s XRP supply is quite different from the previous ones.. Read more about xrp ripple news and let us know what you think.
Jed McCaleb, co-founder and former chief technology officer (CTO) of San Francisco-based Ripple, which offers blockchain-based payment services, had a significant stake in XRP. However, since he started selling his XRP tokens, the number of tokens has dropped significantly. According to a new report, Ripple’s former CTO may no longer own XRP shares very soon.
Jed McCaleb will deplete his XRP holdings within two months
Martin Valk, crypto-currency researcher and XRP token fan, has revealed when the former CTO of Ripple will run out of XRP tokens. The researchers shared a link to a website showing the pieces of XRP that Ripple’s co-founder regularly received from the company as part of a deal. The data on this page also shows the estimated actual time when Jed McCaleb’s XRP stock will be completely depleted for a reason. And that time frame is estimated at 59 days, or almost two months, according to the website. This means that Jed McCaleb will be retiring all of his XRP chips in the next two months. So, based on the estimated timeline of this data, the Ripple CTO should be up and running in Q3. August to run out of XRP, with the co-founder also selling tokens over the weekend. McCaleb reportedly sold half a billion chips in May and the first four days of June. Moreover, another report shows that the 3. June received a huge amount of XRP tokens (408 million XRP in total) from the company.The former CTO of Ripple recently said he would run out of XRP if he held onto his coins for one year. That may not have been a serious threat, but the recent surge in Ripple prices has a lot of people asking (even moreso when we consider the number of coins XRP supply is slowly being decreased). The new research says that Ripple will run out of XRP in just over three years—which is when the company’s current CTO will leave.. Read more about is xrp a good investment 2021 and let us know what you think.