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27 September 2023
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Ex Ripple CEO receives 14.5 M out of 39.5 M moved by Ripple

A bot that tracks the huge movement of funds between XRP wallets has announced a new transaction in which part of the funds was sent to ex-Ripple CEO, Chris Larsen.

The XRPL Monitor took to Twitter to give the details of the transaction that took place. The transaction was said to be worth around 39.5 million XRP with a part of it going to the previous Ripple CEOs wallet. 

This is not the first time that  Ripple will be wiring such huge amounts of XRP to Jed McCaleb as he received a huge amount of XRP at the beginning of the week. The bot that spotted the transaction, XRPL Monitor, stated that it noticed that several XRP that left the confines of the payments company with each totalling close to $12 million.

Bot analyses the major transactions that took place

In its analysis, XRPL Monitor said a total of 14.5 million XRP was sent to a wallet that is owned by the previous Ripple CEO, Jed McCaleb. 

Furthermore, the XRPL Monitor noticed that another transaction took place with Chris Larsen being the sender as he made two separate transactions of 7.5 million XRP each to a wallet in the Coinbase Pro exchange

XRPL Monitor also announced that another transaction was carried out, but this time it was between two wallets belonging to the payments platform. The last transaction that was carried out was said to have been worth 10 million XRP.

Former Ripple CEO still receiving massive payments from Ripple

As part of a long-standing settlement agreement, McCaleb has continued to receive payments from Ripple since 2013. Not long ago, the previous Ripple CEO sent about 6.1 million XRP to Tacostand with the intent of exchanging it for cash. 

At the beginning of this week, McCaleb got a payment from Ripple which was said to be worth $17 million. With Jed receiving hefty XRP payments, he has done little to push the price of XRP as he cashes out just a small portion of the payments he gets.

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