XRP Whale Alert: Ripple Co-founder Shifts $140M to Exchanges

Ripple co-founder Chris Larsen has recently moved a substantial amount of XRP, roughly $140 million, to exchange-linked wallets. This activity, flagged by onchain investigator ZachXBT, has raised eyebrows given XRP's recent price surge and ongoing regulatory landscape.

Key Details

• Large Transfers: Larsen-associated wallets transferred 50 million XRP, valued at around $161 million, in a series of transactions.
• Exchange Deposits: Approximately $140 million was deposited into addresses linked to centralized trading platforms.
• New Wallets: 10 million XRP was sent to two newly created wallets showing no prior activity.
• Timing: The transfers occurred around July 17th, coinciding with XRP hitting a high of $3.65.

Context and Speculation

This isn't the first time Ripple executives have faced scrutiny regarding XRP transactions. The SEC previously accused CEO Brad Garlinghouse and Larsen of significant XRP sales between 2017 and 2020. Larsen moved approximately $30 million in XRP to Coinbase as XRP hit a new high.

While the exact motivation behind Larsen's recent transfers remains unconfirmed, the timing amidst XRP's impressive rally and past regulatory issues has fueled speculation among market observers. XRP recently traded around $3.20.

XRP's Market Performance

XRP has experienced a resurgence, reaching $3.22 and recording a 419.6% gain over the past year. The token briefly hit $3.65 on July 18th and boasts a market cap exceeding $190 billion, solidifying its position as a top cryptocurrency.

Trading volume for XRP has also spiked, reaching $15.5 billion in the last 24 hours, with major exchanges reporting significant activity.