Ripple Chair's 20 Million XRP Move Sparks Discussion

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by Giorgi Kostiuk

2 years ago

Chris Larson, chairman of Ripple, recently transferred 20 million XRP, attracting attention as XRP remains above $3 amid Ripple's legal battle with the SEC.

Ripple Chairman's Fund Transfer

A recent report reveals that Chris Larson transferred around 20 million XRP tokens to an unknown wallet at a value of $3.027. The recipient wallet then moved at least 10 million XRP to another wallet, which liquidated over 4 million XRP on Coinbase. Thus, 16 million XRP from the original transfer remains intact.

Speculation Surrounding the Transfers

The XRP community speculates that the transfer might relate to Ripple’s ongoing SEC lawsuit or Larson’s personal liquidation efforts. Notably, the Ripple chairman’s wallet has transferred at least 80 million XRP in just five months, after being dormant for over 11 years. In September, at least 50 million XRP tokens were moved by Larson in a simpler manner, and these were liquidated over two weeks. Some experts believe that the recent activity mirrors the September pattern.

Market Implications

Chris Larson’s actions highlight ongoing whale activity and raise questions about market impacts. As Ripple navigates its legal battle, Larson’s movements remain a focal point for investors and the XRP community.

Chris Larson's recent activities with XRP tokens continue to intrigue the community, raising questions about potential market impacts amidst Ripple and SEC's legal proceedings.

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