NewsRipple Chairman Chris Larsen’s 20M XRP Transfer Raises Eyebrows
Vignesh S G16 Jan 20252 min read
Ripple Chairman Chris Larsen has stirred intrigue in the crypto community after transferring 20 million XRP tokens worth approximately $60.54 million. This transaction coincides with XRP maintaining its price above $3, even as Ripple remains locked in a high-stakes legal battle with the SEC.
Massive Transfer Raises Eyebrows
A recent report reveals that Chris Larson, the Chairman of Ripple, transferred around 20 million XRP tokens to an unknown wallet at a value of $3.027.
The report also states that the recipient wallet moved at least 10 million XRP to another wallet, which then liquidated over 4 million XRP on coinbase coinbase Coinbase is one of the leading cryptocurrency exchanges known for making digital asset trading secure, easy, and accessible for everyone. Founded by Brian Armstrong and Fred Ehrsam in 2012, the company allows users to buy, sell, and trade cryptocurrencies. Coinbase supports a wide range of cryptocurrencies and provides advanced features like secure trading, crypto holding management, and native blockchain transactions. Key Features Users can purchase, exchange, and manage cryptocurrencies, including Bitcoin and Ethereum. Advanced trading tools for professional traders. A self-custody crypto wallet known as the Coinbase wallet, now available as the Base app. Users can earn rewards on staked cryptocurrencies. Prime brokerage, including costs, trading, and custody for institutions. APIs and on-chain solutions for developers. [email protected] WalletCentralised Exchange
The data suggests that 16 million XRP from the initial transaction remains untouched, prompting discussions about the possible reasons behind Larsen’s actions.
Community Speculates on Motives
Within the XRP community, opinions are divided. Some believe the transfer could be tied to Ripple’s ongoing lawsuit with the SEC, while others speculate it might indicate Larsen’s personal liquidation efforts.
Interestingly, Larsen’s wallet, which remained inactive for over 11 years, has transferred at least 80 million XRP in the past five months. Notable activity includes a September transaction involving 50 million XRP tokens, which were liquidated over two weeks.
History Repeats Itself?
Experts suggest that the recent transfer mirrors September’s pattern, potentially signaling a broader trend. However, the implications of such whale activity on the market remain uncertain.
As Ripple battles regulatory scrutiny, these movements are becoming a focal point for both investors and the XRP community.
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