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

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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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.