Ripple’s Chris Larsen Still Holds 2.58B XRP, Analyst Warns of Potential Sell Pressure
Main Idea
Ripple co-founder Chris Larsen's transfer of 50M XRP to exchanges has raised concerns about potential sell pressure, with analysts warning of further risks due to his remaining 2.58B XRP holdings.
Key Points
1. Ripple co-founder Chris Larsen moved 50M XRP to exchanges, sparking fears of a broader sell-off.
2. Larsen still holds 2.58B XRP, leading analysts to warn that more sell pressure could follow.
3. XRP dropped 13% amid market volatility, adding to investor concerns about insider activity.
4. CryptoQuant analyst J.A. Maartunn cautioned XRP holders about the risk of Larsen's massive remaining XRP balance.
5. XRP perpetual futures open interest hit a record $8.8B, indicating high leveraged trading activity.
Description
XRP investors are raising red flags after a wallet linked to Ripple co-founder Chris Larsen sent 50 million XRP to exchanges, a move that some fear could signal the start of broader sell pressure. Key Takeaways: Ripple co-founder Chris Larsen moved 50M XRP to exchanges, sparking fears of a broader sell-off. Larsen still holds 2.58B XRP, leading analysts to warn that more sell pressure could follow. XRP dropped 13% amid market volatility, adding to investor concerns about insider activity. The tr...
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