Chris Larsen Transfers Over $100 Million Worth of XRP to Exchanges
Chris Larsen, co-founder of Ripple, made a significant move in January by transferring more than $100 million worth of XRP to exchanges.
Blockchain Investigator Flags Transactions
Blockchain investigator ZachXBT highlighted these transactions in a post on X, reporting that wallets associated with Larsen moved over $109 million in XRP to Coinbase, Bitstamp, and Bybit during the month.
XRP Price Soars
These transfers coincide with a sharp increase in the price of XRP, which surged by around 50% to reach a 7-year high of over $3.
Transaction Details
An analysis of Larsen’s wallet reveals the following transactions:
- Jan. 6: 10 million XRP sent to Coinbase
- Jan. 16: 20 million XRP moved to an unidentified address
- Jan. 22: 10 million XRP transferred out
- Jan. 29: Two transfers of 5 million XRP each to separate destinations
In total, Larsen moved 50 million XRP in January, valued at approximately $155 million based on XRP’s market price of $3.10. Despite these transfers, his wallet still holds around 400 million XRP tokens, worth $1.24 billion at the current valuation.