The Buzzing Bee
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😱⚡️✨️Ripple Co-Founder Offloaded $140 Million in XRP After All-Time High
XRP just dropped over 11% from its July 17 high of $3.65 after Ripple co-founder Chris Larsen moved 50 million XRP. Around $140M worth landed on exchanges, according to sleuth ZachXBT; the market clocked the move and responded loud and clear.
On-chain data shows Larsen’s wallet activity spiked right as XRP peaked; just as happened in 2018 when founder sell-offs also aligned with market tops.
Larsen still holds over 2.8 billion XRP, which potentially translates to a whole lot of sell pressure. With insiders still holding huge bags, we’re keeping one eye on the charts, and another on founder wallets.
$XRP
XRP just dropped over 11% from its July 17 high of $3.65 after Ripple co-founder Chris Larsen moved 50 million XRP. Around $140M worth landed on exchanges, according to sleuth ZachXBT; the market clocked the move and responded loud and clear.
On-chain data shows Larsen’s wallet activity spiked right as XRP peaked; just as happened in 2018 when founder sell-offs also aligned with market tops.
Larsen still holds over 2.8 billion XRP, which potentially translates to a whole lot of sell pressure. With insiders still holding huge bags, we’re keeping one eye on the charts, and another on founder wallets.
$XRP
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