Ripple Chair's 20 Million XRP Move Sparks Discussion

user avatar

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.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Solana Labs Launches Leap Mobile Trading App for iOS

Solana Labs has launched an early-access beta version of its mobile trading app, Leap, for iOS users.

user avatarLeo van der Veen

Aave Labs Expands Fixed-Rate Lending Capabilities with Avon Acquisition

Aave Labs announced its acquisition of Avon to enhance fixed-rate lending capabilities.

user avatarLi Weicheng

Investigation into Binance Theft Reveals Complexities in Cryptocurrency Tracing

Elliptic's investigation into the October Binance theft reveals complexities in tracing stolen cryptocurrency assets, highlighting challenges in identifying recipients and the need for compliance.

user avatarTenzin Dorje

Elliptic Reports $124 Million in Stolen Assets Converted to Bitcoin

Elliptic reports that approximately $124 million of stolen assets from the October Binance breach have been converted into Bitcoin.

user avatarAisha Farooq

Coinbase Launches Integrated Services for Token Issuers

On November 5, Coinbase launched a new integrated platform for token issuers, offering services from sales to custody, aiming to streamline operations and reduce reliance on multiple providers.

user avatarBayarjavkhlan Ganbaatar

Canary Staked INJ ETF Now Trading on Nasdaq

The Canary Staked INJ ETF began trading on Nasdaq under the ticker INJC on November 5, offering exposure to the Injective token and staking rewards.

user avatarMohamed Farouk

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.