Chris Larsen, co-founder of Ripple, continues to hold a significant amount of XRP tokens and may not stop anytime soon, according to analysts.
Analysis of Larsen's Selling Situation
CryptoQuant analyst J.A. Maartun notes that Larsen still holds a total of 2.58 billion XRP tokens, currently valued at $7.9 billion. His recent $200 million sale could be just a 'warm-up.'
Community Reaction to XRP Sales
Some members of the XRP community noted that Larsen's selling spree began shortly after the token's impressive rally. Since July 18, when XRP reached its all-time high of $3.66, it has plunged by nearly 20%, slipping below $3. Lawyer Bill Morgan dismisses the idea that Larsen's sales are the primary reason for the token's underperformance.
Final Conclusions on Larsen's Actions
Since the record-breaking rally began in November 2022, Larsen has sold a total of 107 million XRP, valued at approximately $3.3 billion at current prices. Larsen and fellow co-founder Jed McCaleb each received 9 billion XRPs back in 2012. McCaleb finally stopped selling XRP in July 2022.
Chris Larsen's ongoing XRP sales raise questions about the future of the token and the community's response to his actions.
