Chris Larsen, co-founder and chairman of Ripple, recently made headlines by transferring 50 million XRP, valued at around $29 million, from his personal wallet after more than a decade of inactivity. The transaction, which took place on September 16, 2024, involved a movement to an unidentified wallet. This sparked a 4% increase in XRP's price due to the sheer scale of the transfer, leading to widespread speculation within the crypto community. While some wondered if the transfer was politically motivated, possibly linked to Larsen's support for U.S. presidential candidate Kamala Harris, others suggested it could be part of a broader financial strategy.
Despite concerns that the move might signal a large sell-off, there is no confirmation of such intentions. The transaction also highlighted the influence that "whales" like Larsen continue to have on market movements in the cryptocurrency world. Ripple, meanwhile, remains a key player in the crypto space, especially with the growing institutional interest and projects like the Grayscale #Xrp🔥🔥 Trust ✅
