- Ripple co-founder Chris Larsen moved about 50 million XRP to exchanges, leading to accusations of “insider dumping” and fears among investors of becoming “exit liquidity”.
- Despite the recent transfer, Larsen still holds over 2.5 billion XRP, valued at roughly US$8.83B, a concern of potential future sell-offs that could heavily impact the price.
- Following the wallet activity, XRP’s price has corrected approximately 13% from its recent high, even though it remains one of the better-performing altcoins over the last 30 days.
Again, it looks like Ripple executives are dumping on their investors, or at least that’s what some members of the XRP community feel now that Chris Larsen is yet again moving millions of tokens.
That’s right. Chris Larsen, Ripple co-founder, triggered another sell-off concern among XRP holders after moving roughly 50 million XRP to exchanges, and he’s being accused of insider dumping at this point.
Related: AFR: Carnegie Opens Crypto Gate for Super Funds and Family Offices
Don’t Get Dumped On
The transfers were first flagged on July 17, following XRP’s sharp rally to US$3.65 (AU$5.55), its new all-time high. In social media, the discontent is quite clear, with many calling the move a deliberate attempt to cash out at the top.
Others just view it as routine profit-taking, but critics aren’t buying it. For instance, CryptoQuant contributor J. A. Maartunn warned on X that the outflow is only a fraction of the threat, pointing to Larsen’s massive remaining holdings.
“Chris Larsen still holds 2.58B $XRP — that’s $8.83B,” he said. “If $200M was just the warm-up… what’s next?”
His warning was pretty clear. “Don’t get dumped on. Don’t be the exit liquidity. Protect yourself.”
Maartunn’s remarks accompanied an on-chain chart showing the wallet’s XRP balance over time, underlining just how little impact the 50 million token move had on the total stash. No need to point out the obvious: far more sell-side pressure could be unleashed if Larsen continues to offload, and XRP has suffered enough in the past week.
All in all, XRP still is one of the better-performing altcoins in the last 30 days, surging over 50%, rallying in tandem with broader crypto momentum while Bitcoin cooled off. But following the wallet activity, XRP has corrected roughly 13%, according to data from CoinGecko.
Related: Tether Eyes US Institutional Launch Following GENIUS Act Approval
Credit: Source link
