Ripple's Chris Larsen Has Moved $140 Million in XRP to Exchanges During Record Surge
Main Idea
Ripple co-founder Chris Larsen moved over 50 million XRP to exchanges before the cryptocurrency hit a record high, amid ongoing market volatility and regulatory developments.
Key Points
1. Chris Larsen transferred 50 million XRP ($175 million) to four addresses, with $140 million ending up on exchanges.
2. XRP reached a new all-time high of $3.65 last week but has since dipped to $3.25, though it remains up nearly 50% over the past month.
3. The transactions occurred as Ripple's legal battle with the SEC nears its conclusion, following a 2023 court ruling that programmatic sales of XRP were not securities.
4. Ripple CEO Brad Garlinghouse warned of scammers impersonating Ripple on YouTube to promote fake XRP giveaways, coinciding with XRP's recent price dip.
Description
The moves came as XRP reached an all-time high. It has more recently retreated.
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