Ripple Chairman Chris Larsen Moves Another 18M XRP, What’s Next?

XRP news: Chris Larsen, the chairman and co-founder of Ripple, has transferred a substantial amount of XRP tokens. On Monday, Larsen moved 3 million XRP to Binance and an additional 15 million XRP to a wallet activated by Bittrex. This recent activity follows a pattern observed over the past few months where Larsen has transferred significant quantities of XRP, leading to widespread discussion among investors and analysts regarding the potential implications for the XRP market.

Chris Larsen Transfers 18M XRP to Exchanges In Latest XRP News

In recent XRP news, Chris Larsen has once again moved a notable amount of XRP to various exchanges. Yesterday, 3 million XRP were sent to Binance, with an additional 15 million directed towards a Bittrex-activated wallet. This continues a series of large transfers by Larsen, sparking varied speculation across the XRP community.

Additionally, just last week, Larsen was reported to have moved 20 million XRP, adding to the prior transfer of 50 million XRP earlier in the month. These considerable quantities point to a pattern of distribution or liquidation that has kept market watchers on alert, pondering the potential impacts on XRP price.

Market Reactions and Speculations

The recurring transfers by Chris Larsen have ignited discussions and speculations among investors and market analysts. Many in the XRP community are analyzing the effects of these large-scale token transfers. They consider the potential impacts on XRP’s liquidity and price volatility. 

More so, some speculate that these might be strategic moves to manage liquidity before major market or regulatory events. Others wonder if they signal personal portfolio adjustments by the Ripple chairman. The unclear motives behind these XRP news highlights the influence of major token movements by key figures in the sector.

Notably, the transfers coincide with crucial periods for Ripple, particularly considering the looming speculations around the US SEC’s lawsuit appeals. Additionally, Chris Larsen has invested heavily in San Francisco’s political scene, contributing millions to various politicians. This adds to the mystery on his recent large transfers to exchanges.

Further adding to the intrigue are Ripple’s recent moves involving 200 million XRP, valued at approximately $117 million, transferred to an undisclosed wallet. This event aligns closely with growing discussions regarding a possible last minute appeal by the US SEC in the ongoing lawsuit against Ripple, an issue that has dominated XRP news and influenced market sentiment significantly.

The current XRP price stands at $0.5865, reflecting a modest uptick of 0.29% over the past seven days. Despite recent fluctuations and movements, the market has seen periods of surge and shown resilience.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. His work includes notable contributions to Cryptopolitan and Coingape News Media, where he shares his insights on the latest developments in the cryptocurrency market. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.