Ripple’s Larsen Might Be Just Starting After $200 Million XRP Selling Spree, Analyst Says

Ripple co-founder Chris Larsen might not be done selling XRP, according to CryptoQuant analyst J.A. Maartun.

In a recent social media post, Maartun noted that Larsen continues to hold a total of 2.58 billion XRP tokens, which are currently valued at $7.9 billion. 

A top signal?

The analyst has suggested that Larsen’s recent $200 million sale could be just “a warm-up.”

Some have noted that Larsen’s XRP selling spree came shortly after the token experienced an impressive rally. On July 18, XRP reached its all-time high of $3.66. 

According to XRPScan, the blockchain explorer for the XRP Ledger, Larsen’s most recent XRP transfer took place two days ago. The Ripple co-founder sent an additional 1 million tokens, which coincided with a substantial price correction. 

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XRP has plunged by roughly 20% from its local top, recently slipping below the $3 level.  

That said, some members of the XRP community, such as lawyer Bill Morgan, reject the idea that Larsen’s alleged sales are the key reason behind the token’s underperformance. 

How much has Larsen sold? 

Larsen, whose personal net worth is estimated to be $11.4 billion, has now sold a total of 107 million XRP since the token’s record-shattering rally that started in November. At current prices, this sum of tokens is valued at roughly $3.3 billion.

Some are also drawing parallels between Larsen and fellow Ripple co-founder Jed McCaleb. The latter finally stopped selling XRP in July 2022. 

Both Larsen and McCaleb received 9 billion XRPs each back in 2012 as part of the 20 billion allocation for founders. 

Enigmatic Ripple co-founder, who recently emerged on social media for the first time, was allocated the remaining 2 billion tokens.