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Chris Larsen Moves $26M in XRP to Coinbase as Price Hits 7-Month Peak
Chris Larsen, co-founder and chairman of Ripple, has continued his sales spree by transferring $26 million worth of XRP to Coinbase. This transaction comes at a critical time, with the price of XRP reaching a seven-month high of $3.23, demonstrating a remarkable 7% increase in the last 24 hours.
The recent surge in XRP’s value is a stark contrast to Larsen’s ongoing sales. Despite his large transactions, the market has remained resilient, pushing XRP towards its all-time high of $3.84. The growing gap between Larsen’s selling price and the current market value of XRP is noteworthy. At the current price, his previously sold stash is worth a staggering $342 million, exceeding $8 million more than when it was initially sold.
Larsen’s continuous sales have sparked concern within the XRP community, as his significant holdings account for 4.39% of XRP’s circulating supply. Despite these concerns, Larsen still holds 332.5 million XRP tokens, valued at over $1 billion.
The recent transaction brings the total amount of XRP moved by Larsen this year to more than $106 million, which is equivalent to approximately $334 million. This further highlights his commitment to selling a significant portion of his XRP holdings despite its rising value.
Source: coincentral.com
