The post Ripple Chairman Chris Larson Moves 20M XRP: What’s Behind the Transfer? appeared first on Coinpedia Fintech News
Ripple chairman Chris Larson recently moved 20 million XRP, valued at around $60.54 million, sparking speculation about his motives. Interestingly, the move coincides with XRP holding steady above $3 amid Ripple’s ongoing legal battle with the SEC.
Ripple Chairman Moves 20 Million XRP
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.
This clearly implies that a total of 16 million XRP from the original transfer remains intact.
Speculation Surrounding the Transfers
As per reports, the XRP community speculates the transfer might relate to Ripple’s ongoing SEc lawsuit or Larsen’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. These tokens were liquidated in over two weeks.
Some experts believe that the recent activity mirrors the September pattern.
In conclusion, Chris Larson’s recent XRP transfer highlights ongoing whale activity and raises questions about market impacts. As Ripple navigates its legal battle, Larsen’s actions remain a focal point for investors and the XRP community.