Ripple Co-Founder Chris Larsen May Continue Selling XRP Amid Recent Price Correction
Main Idea
Ripple co-founder Chris Larsen's significant XRP sales amid price corrections raise concerns about market influence and investor sentiment, with comparisons to fellow co-founder Jed McCaleb's past sales.
Key Points
1. Chris Larsen has sold over 100 million XRP tokens, totaling approximately $200 million, following XRP's price surge.
2. Larsen still holds 2.58 billion XRP, valued at nearly $7.9 billion, but his sales are seen as potentially signaling a market peak.
3. A 20% price correction after XRP's peak at $3.66 in mid-July has intensified speculation about large holders' impact on price stability.
4. Analyst J.A. Maartun suggests Larsen's sales may be just the beginning, affecting XRP's liquidity and supply dynamics.
5. Comparisons are drawn to Jed McCaleb, another Ripple co-founder, who stopped selling XRP in July 2022 after a prolonged divestment period.
Description
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