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Ripple’s Chris Larsen’s XRP Move to Coinbase Fuels Market Speculation: Details
The crypto community is abuzz with speculation following a large transaction from Ripple cofounder and executive chairman Chris Larsen’s crypto wallet. As reported by Wu Blockchain, Larsen recently transferred approximately $26 million worth of XRP to Coinbase, raising concerns about potential selling pressure and market intent.
It remains unclear whether the funds have been sold or not. Since the start of the year, Larsen’s wallet has transferred a total of around 106 million XRP. The transaction reportedly occurred earlier this week when Larsen’s wallet moved 26 million XRP to the major U.S. exchange Coinbase. While it is unconfirmed whether the tokens have been sold, such high-profile transactions often stir market reactions, especially when they involve executive-level wallets.
The news comes on the heels of XRP ‘s recent climb, which has brought it close to its historic high of $3.40. This recent price movement has attracted both retail and institutional interest, making any large transactions particularly impactful on sentiment.
Source: u.today
