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Ripple Co-Founder Moves $140 Million in XRP, Sparking Insider Selling Concerns

Chris Larsen's recent transfer of 50 million XRP raises alarms about potential market impact, as ongoing SEC investigations continue to loom over Ripple.

XRP

Summary

On July 25, BlockBeats reported that Chris Larsen transferred 50 million XRP since July 17, amounting to approximately $140 million moved to exchange-related addresses. His wallets still hold about 2.81 billion XRP, valued at $9 billion, amid SEC investigations. This activity has raised concerns about potential insider selling, especially as XRP's price declined by 8% on July 24.

Terms & Concepts
  • XRP: A digital asset used for cross-border payments and remittances, developed by Ripple Labs.
  • insider selling: The sale of stock or other securities by individuals with access to non-public information about the company.
  • centralized exchanges: Platforms where cryptocurrencies are traded, managed by a central authority that facilitates transactions.