A wallet tied to Ripple’s co-founder Chris Larsen transferred a price of $ 50 million to 50 million XRPs between 17 and Wednesday, sparkling the backlash from the Crypto community between a pullback at the price of XRP.
Blockchain sleel zachxbt Marked In view of Thursday’s post on X, Given that about 140 million dollars of XRP (XRP) were sent for centralized exchanges or services. Transfer for exchanges is usually interpreted as an intention to cash.
Zachxbt said, “The wallets associated with Chris Larsen are still more than 2.81 billion XRP (priced at $ 8.4 billion),” Zachxbt said, responding to a user, who said, “It’s surprising how much they have and people buy this nonsense.”
The XRP currently trades around $ 3.09, the market cap is $ 183 billion. This means that the value of Larsen’s holdings is about 4.6% of the total market cap of XRP, which can cause strong sales pressure when moving rapidly.
Connected: XRP threatened to drop up to $ 3: Will bulls take steps to buy a dip?
Larsen accused of “dumping” near local high
The time of Larsen’s XRP transfer was criticized. As transfer, XRP on Friday touched a local high above $ 3.60 above $ 3.60, before falling below $ 3.10, some accused Larsen of “dumping” the market.
“Chad to dump on his autistic fan base,” an X user said. “Sports game,” zachxbt Pinned In a follow -up post.
Another user Express Disappointment over the recurring pattern of insider celloffs, asking how the ripple continues a top ranking between “hunter dumping”.
Not everyone agreed with criticism. A user called 0xlouist Argued This step was about “decentralizing their holdings to long -term holders to ensure a proper decentralization of the network and supply.”
Larsen did not publicly comment on the matter at the time of publication. Cointelegraph reached Ripple for comment, but did not receive a reaction by publication.
Connected: Can XRP price reach $ 20? These charts say that the ‘Full Bull’ phase is still ahead
XRP eyes 2018 high drop
According to Bitpanda Deputy CEO, Lucas Angerer-Konrad, the XRP is probably in a position to break its 2018 all-time high $ 3.84 despite the recent dip.
Enzersdorfer-Konrad stated that the future of XRP would depend a largely favorable market conditions and continue capital rotation from bitcoin to altcoins. He said that there is no unique catalyst pushing the XRP to itself, and the broad market speed is important.
magazine: XRP win a crypto legal example leaves a ‘bad actor’ with a legal example
