Ripple (XRP) was in the middle of a strong revival, but there is now a shadow above the course. Chris Larsen, co-founder of Ripple, has moved 50 million XRP tokens to fairs in a short time. According to analysts, this can be the start of a much larger wave.
Chris Larsen is moving millions in XRP to Exchanges
On July 17, the XRP rate shot up to more than 3.60 dollars. But the euphoria quickly changed. Shortly after the peak, a wallet, linked to Ripple founder Chris Larsen, moved 50 million XRP to crypto fairs. On social media, the timing led to unrest: investors saw how one of the largest XRP holders began to sell at the peak.
According to on-chain analyst Marchunn-connected to cryptoquant-this may only be the beginning. The wallet still contains 2.58 billion XRP, good for a value of $ 8.8 billion. “If 200 million was already the warm-up … what will be?” He warns on X.
‘Don’t be an exit liquidity’
The warnings are piling up. “Don’t be used as an exit liquidity,” says Marchunn. He calls on investors to stay alert. Other traders join that message. “The timing is no coincidence,” says trader Manly. “Selling directly on the peak? This was planned.”
Since the sale, XRP has fallen by thirteen percent and the price is now around $ 3.18. The movement again underlines how vulnerable crypto races are for large wallet movements.
Bitcoin also under pressure after sale of 80,000 BTC
Not only XRP is struggling with sales pressure. Bitcoin (BTC) also got a blow after a so-called ‘Satoshi-Whale’, a wallet that had been inactive for 14 years, suddenly sold 80,000 BTC. The sale was handled via Galaxy Digital and caused a short -term fall in price to $ 114,500. In the meantime, Bitcoin has been fired again and acts again above $ 118,000.
Source: https://newsbit.nl/xrp-wallet-gelinkt-aan-chris-larsen-bevat-nog-9-miljard-dollar-dreigt-een-verkoopgolf/
