Ripple’s Chris Larsen Sparks Backlash For Sending $140 Million In XRP To Exchanges Near All-Time Highs
Main Idea
Ripple co-founder Chris Larsen transferred 50 million XRP (worth $175 million) to exchanges, sparking backlash and speculation about market dumping, while some defended the move as part of network decentralization.
Key Points
1. A wallet linked to Ripple's Chris Larsen moved 50 million XRP ($175 million) to four addresses between July 17 and July 24, 2025.
2. Approximately $140 million of the XRP was sent to centralized exchanges, suggesting a potential sell-off.
3. Larsen's remaining holdings include 2.81 billion XRP (worth $8.4 billion), accounting for nearly 5% of XRP's total market cap.
4. The crypto community criticized the timing of the transfers, accusing Larsen of dumping on investors, while others defended it as a decentralization effort.
5. XRP's price hit an all-time high of $3.65 on July 18, 2025, before dropping to $3.10, coinciding with Larsen's transactions.
Description
Approximately $140 million of the XRP was transferred to centralized crypto exchanges, implying the Ripple executive was planning to sell.
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