Ripple Chairman Chris Larsen’s 20M XRP Transfer Raises Eyebrows

Published by

Vignesh S G

January 16, 2025

Ripple Chairman Chris Larson Moves 20M XRP: What’s Behind the Transfer?

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 - support@coinbase.com 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.

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XRP News: Lawyer Exposes SEC’s Crypto Ignorance in Ripple Lawsuit
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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.

Vignesh S G

Vignesh is a young journalist with a decade of experience. A proud alumnus of IIJNM, Bengaluru, he spent six years as a Sub-Editor for a leading business magazine, published from Kerala. His interest in futuristic technologies took him to a US-based software company specialising in Web3, Blockchain and AI. This stint inspired him to view the future of journalism through the lens of next generation technologies. Now, he covers the crypto scene for Coinpedia, uncovering a vibrant new world where technology and journalism converge.