Ripple co-founder Chris Larsen has transferred 50 million XRP tokens to exchanges, fueling market anxiety over potential selling pressure amid a broader cryptocurrency downturn. The transaction triggered debates among analysts and investors regarding near-term price stability for the digital asset.
Blockchain records reveal Larsen’s wallet retains approximately 2.58 billion XRP, valued at nearly $8.83 billion, suggesting risks of additional large-scale liquidation events could persist. XRP’s price has already declined 13% from recent highs, amplifying retail investor risks according to market observers.
The crypto market faced intensified volatility due to separate whale activity involving 80,000 BTC sold from early ‘Satoshi era’ wallets. This triggered over $500 million in leveraged position liquidations within 24 hours across trading platforms.
Investors are urged to monitor developments closely, as Larsen’s substantial holdings remain capable of significantly influencing XRP price dynamics and overall market stability.