XRP Didn't Care About Jed McCaleb and Chris Larsen's Massive Dumps

Crypto analyst Dark Defender has recently revisited a significant XRP transaction from December 9, 2020.

The tweet focused on former Ripple co-founder Jed McCaleb, who moved 266,305,309 XRP, valued at approximately $148 million at the time, from the Jed McCaleb Settlement account to his wallet. This transaction was originally flagged and reported by Whale Alert, a well-known blockchain tracking account.

Dark Defender emphasized that if McCaleb had retained that amount of XRP instead of selling, it would be worth approximately $940 million today, based on recent market valuations. This historical reflection served as a central argument in his broader point about market resilience.

Contextualizing the Chris Larsen Reference

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The post by Dark Defender was partly prompted by renewed discussion surrounding a Ripple co-founder, Chris Larsen. Recent reports indicated that Larsen had sold XRP worth $175 million.

Dark Defender drew a parallel between that sale and McCaleb’s 2020 activity, but stressed that McCaleb’s large sale had not undermined XRP’s longer-term performance. He concluded that there was no reason for concern regarding large token movements by major early holders, using the 2020 event as a reference point.

Dark Defender’s analysis was based on the observation that the XRP market, both in terms of liquidity and structural strength, appeared unaffected by what was then considered one of the largest individual XRP sales. The implication was that fears related to the influence of whale movements, particularly from Ripple-affiliated entities or individuals, may be overstated.

Reactions from the XRP Community

This assertion appears to be directed at the tweet by Whale Alert, which explicitly labeled the movement as a transfer from a settlement account to a personal wallet. However, Dark Defender maintained that the funds were subsequently sold, consistent with historical patterns in McCaleb’s account activity during that period.

Dark Defender’s Conclusion

Dark Defender concluded that the fears surrounding major XRP sales, particularly from early figures like Jed McCaleb or Chris Larsen, are largely unfounded. By referencing an actual historical event and juxtaposing it with current sentiment, he aimed to reassure the community about the robustness of XRP in the face of perceived selling pressure.

While some users disagreed with the exact nature of the transaction in question, the core point raised by Dark Defender—that the market did not react with sustained negative movement following the 266 million XRP transfer—stood uncontested. The analyst used this example to argue that the XRP ecosystem has matured in such a way that it can absorb major asset movements without structural instability.

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