#Ripple chairman Chris Larsen transfers 20 million XRP to an unknown wallet address amid the latest XRP price milestone.
Whale tracking resource Whale Alert first indexed the transaction, which occurred earlier today at 1:04 UTC. On-chain data confirms that the Larsen address moved exactly 20 million XRP to the unknown wallet ‘rPS…u98’ in a single outflow.
Details of the XRP Movement
Due to XRP’s latest price milestone, the tokens were worth $60.54 million, indicating that XRP traded at $3.027 when Larsen made the transfer. Recall that XRP recently reclaimed $3 and has now held above it despite an earlier pullback.
Notably, the latest transaction elicited multiple reactions within the XRP community. Several individuals now speculate the possible reason behind the high-value transfer. Some hopefully suggested it might relate to a possible settlement in the Ripple vs. SEC case. However, the SEC recently filed its appeal brief, looking to extend the case.
Shortly after receiving the assets, the recipient address rPS…u98 transferred 10 million XRP to another unknown wallet ‘rnQ…woi’ at 2:46 UTC.
So far, rPS…u98 has held onto the remaining 10 million tokens. However, it bears mentioning that this address has been receiving millions of XRP from exchanges Coinbase and Bitstamp and sending most of them to rnQ..woi.
Nearly twenty minutes after the 10 million XRP inflow, rnQ…woi transferred 4 million tokens, which have since moved to Coinbase for possible liquidation. The wallet still holds 6 million XRP at press time.
Combined with the 10 million XRP tokens held by rPS…u98, the initial recipient address, this indicates that 16 million XRP from the 20 million tokens recently moved by Larsen remains intact, with 4 million liquidated through Coinbase.