Jed McCaleb Speaks Out: The Truth Behind His Multi-Billion Dollar XRP Controversy Sell-Off!

Ripple founder Jed McCaleb has finally broken his silence regarding the ongoing XRP controversy about his extensive sales of the tokens. In a bid to clarify his perspective and respond to critique from the crypto fraternity, the co-founder of Ripple and Stellar has stressed that his actions were independent and not meant to cause harm.

McCaleb emphasized that his approach was not meant to harm investors or the market, but rather to be transparent. He said, “The intent was to let people front-run me. The alternative was to sell without telling people. Is that better?”, highlighting his wish to keep the community informed about his actions.

Ripple Founder’s Massive Sales Led to XRP Controversy 

McCaleb’s association with XRP began in 2012 when he received 9 billion tokens as part of his contribution to founding Ripple Labs. However, a year later McCaleb left the company due to differing future visions. Soon, he started selling his XRP holdings under a series of agreements with Ripple. At first, he was restricted to selling only $10,000 worth of XRP per week. However, later, McCaleb renegotiated these terms following legal disputes with Ripple. Ripple accused him of violating the original agreement by exceeding sales limits.

Over time, the Ripple founder was able to sell $3.2 billion worth of XRP in installments by 2022. He mentioned that he never promoted XRP in the market, which also helped him steer clear of the regulatory issues faced by Ripple in the SEC case.  His recent statements aim to clear misconceptions about his motives and reassure investors.

McCaleb Reveals Ambitious Space Venture

The Stellar founder is now focusing on ambitious ventures, especially investing in the development of a $1B commercial space station through his company Vast. McCaleb’s investment has taken the entire community by storm. In the meanwhile, XRP also registered an emphatic victory as the SEC dropped its case against Ripple Labs. The milestone has led to significant market buzz surrounding XRP, let’s take a quick look at how it has been performing on the charts. 

XRP Price Analysis: XRP Hovers Around $2.4

The XRP price started yesterday at $2.42, working in a trading range since the previous day. An upward breakout did occur, taking XRP closer to $2.50, but found stern resistance at $2.46. A death cross appeared on the MACD at 2:10 UTC, leading XRP into a steep decline, as XRP stumbled down to $2.38 support. The price attempted to ascend again twice, but the bullish momentum did not hold, and XRP eventually gave up on that support.

The price fluctuated some more before a bullish triangle was seen in the afternoon. The rising support trendline led XRP price upward in due time as XRP faced new resistance at $2.41.

Chart 1: analyzed by raodevansh18, published on TradingView, March 22, 2025

XRP continued to fight the $2.41 resistance on March 22 with strong support at $2.37. XRP went on to make multiple attempts to break that resistance but hasn’t yet succeeded in doing so. The support trend line also seems to be on the rise, as another bullish triangle forms. 

XRP Price Prediction: Will The Bullish Triangle Deliver? XRP for $2.50 Again

A bull run was expected for XRP after the SEC case triumph. However, the lack of whale activity and sustained buying pressure has led to the XRP price making do with sub-$2.5 ranges for now. As of now, the bullish triangle may not be able to drive XRP beyond the resistance. The trading range it currently is in may stick around a bit longer. Any upward movement will occur late on March 22.