The Ravens waived Reed on Friday, per the NFL's transaction log.
Reed served as the backup quarterback to Joe Fagnano in the Ravens' Thursday night loss to the Jaguars. The quarterback was signed due to the movement of Lamar Jackson (thumb) and Tyler Huntley (toe) to injured reserve. Now that the Ravens have traded for Jacoby Brissett, Reed is no longer necessary and has been placed on waivers.