XRP Holders Should ‘Protect Themselves’ Amid Chris Larsen-Linked Sales
The post XRP Holders Should ‘Protect Themselves’ Amid Chris Larsen-Linked Sales appeared on BitcoinEthereumNews.com. Key points: Ripple co-founder Chris Larsen sparks warnings to XRP investors after a wallet linked to him sends 50 million tokens to exchanges. Larsen notionally has over 2.5 billion XRP left, which would create massive selling pressure if distributed. XRP/USD currently trades 13% below recent all-time highs, failing to recover after the sell-off. XRP (XRP) investors face new warnings over becoming “exit liquidity” after Ripple co-founder Chris Larsen moved 50 million tokens to exchanges. In a response on X, J. A. Maartunn, a contributor to onchain analytics platform CryptoQuant, told XRP holders not to “get dumped on.” Chris Larsen XRP transactions: “What’s next?” XRP hit near all-time highs above $3.60 on July 17, but the achievement was quickly overshadowed by large outflows from a wallet linked to Ripple co-founder Chris Larsen. As Cointelegraph reported, reactions on social media were mixed, with some seeing a reasonable profit-taking move and others accusing Larsen of deliberate offloading at the highs. Continuing the topic, Maartunn warned that the wallet’s giant XRP stash meant that the recent 50 million XRP outflows were merely a drop in the ocean. Larsen, he suggested, could increase sell-side pressure by a huge factor should he choose to pull more of its balance. “Chris Larsen (Ripple co-founder) still holds 2.58B $XRP — that’s $8.83B,” he wrote. “If $200M was just the warm-up… what’s next?” XRP balance of wallet linked to Chris Larsen. Source: Maartunn/X XRP was one of the major altcoins leading the sector’s comeback this month after Bitcoin (BTC) began consolidating. Currently at $3.18, according to Cointelegraph Markets Pro and TradingView, XRP/USD has since corrected 13%. XRP/USD 4-hour chart. Source: Cointelegraph/TradingView “Don’t get dumped on. Don’t be the exit liquidity. Protect yourself,” Maartunn added. Other popular market participants joined the concerns, including trader ManLy. Chris Larsen, Ripple co-founder, sold…
The post XRP Holders Should ‘Protect Themselves’ Amid Chris Larsen-Linked Sales appeared on BitcoinEthereumNews.com.
Key points: Ripple co-founder Chris Larsen sparks warnings to XRP investors after a wallet linked to him sends 50 million tokens to exchanges. Larsen notionally has over 2.5 billion XRP left, which would create massive selling pressure if distributed. XRP/USD currently trades 13% below recent all-time highs, failing to recover after the sell-off. XRP (XRP) investors face new warnings over becoming “exit liquidity” after Ripple co-founder Chris Larsen moved 50 million tokens to exchanges. In a response on X, J. A. Maartunn, a contributor to onchain analytics platform CryptoQuant, told XRP holders not to “get dumped on.” Chris Larsen XRP transactions: “What’s next?” XRP hit near all-time highs above $3.60 on July 17, but the achievement was quickly overshadowed by large outflows from a wallet linked to Ripple co-founder Chris Larsen. As Cointelegraph reported, reactions on social media were mixed, with some seeing a reasonable profit-taking move and others accusing Larsen of deliberate offloading at the highs. Continuing the topic, Maartunn warned that the wallet’s giant XRP stash meant that the recent 50 million XRP outflows were merely a drop in the ocean. Larsen, he suggested, could increase sell-side pressure by a huge factor should he choose to pull more of its balance. “Chris Larsen (Ripple co-founder) still holds 2.58B $XRP — that’s $8.83B,” he wrote. “If $200M was just the warm-up… what’s next?” XRP balance of wallet linked to Chris Larsen. Source: Maartunn/X XRP was one of the major altcoins leading the sector’s comeback this month after Bitcoin (BTC) began consolidating. Currently at $3.18, according to Cointelegraph Markets Pro and TradingView, XRP/USD has since corrected 13%. XRP/USD 4-hour chart. Source: Cointelegraph/TradingView “Don’t get dumped on. Don’t be the exit liquidity. Protect yourself,” Maartunn added. Other popular market participants joined the concerns, including trader ManLy. Chris Larsen, Ripple co-founder, sold…
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