Recent actions by Chris Larsen, co-founder of Ripple, have raised concerns among XRP investors as he transferred a significant amount of tokens to exchanges.
Chris Larsen's XRP Actions
Last week, Chris Larsen transferred 50 million XRP tokens to exchanges, leading to a wave of discussions among investors. According to analyst J. A. Maartunn, this action could signal that Larsen may be ready to increase selling volume, as he still holds over 2.5 billion tokens, which could put pressure on the market.
XRP Market Under Pressure
Currently, XRP is trading at $3.18, which is 13% below the recent highs reached in mid-July when the price exceeded $3.60. Investors are increasingly concerned that Larsen's actions may lead to significant sales and additional market volatility.
Investor Predictions and Recommendations
Analysts are warning investors to be cautious and to consider the possibility that they may become 'exit liquidity' for Larsen. Some community members are advising against investing in XRP at this time, pointing to the threat associated with potential actions that could affect the token's price.
Chris Larsen's actions with XRP have led to concerns among investors regarding potential market pressure. It is crucial to monitor further transactions and assess risks when making decisions.
