Crypto Community Accuses Ripple Co-Founder Chris Larsen of Dumping XRP
Main Idea
Ripple co-founder Chris Larsen transferred $140 million worth of XRP to exchanges, leading to a price drop and community speculation about a potential sell-off, while analysts remain optimistic about XRP's future price potential.
Key Points
1. Chris Larsen sent $140 million in XRP to exchanges, including $30 million on July 17 and an additional $110 million shortly after.
2. XRP's price dropped nearly 9% in 24 hours, falling from $3.65 to $3.13 amid the transfers.
3. The crypto community speculated Larsen was preparing to sell XRP, with some accusing him of 'dumping' the cryptocurrency.
4. Bitpanda Deputy CEO Lucas Enzersdorfer-Konrad believes XRP could surpass its 2018 record of $3.84, citing its sensitivity to altcoin market dynamics.
5. Analysts like Mikybull Crypto predict further growth for XRP, with potential targets of $5 and $8.
Description
Blockchain detective ZachXBT has reported that Ripple co-founder Chris Larsen sent approximately $140 million worth of XRP to exchanges. According to CoinGecko, the token’s price has fallen by almost 9% over the past 24 hours. On July 17, Larsen transferred $30 million in XRP to Coinbase when the altcoin was trading near its all-time high (ATH) of $3.65. Over the next few days, he sent an additional $110 million worth of XRP to the exchange. At the time of writing, the price had decreased to $3....
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