Chris Larsen, co-founder of Ripple, has moved more than $100 million worth of XRP to exchanges in January.
Blockchain investigator ZachXBT flagged the transactions in a Jan. 30 post on X. He reported that wallets linked to Larsen transferred over $109 million in XRP to Coinbase, Bitstamp, and Bybit this month.
Notably, these transfers come as the XRP price rose by around 50% this month to reach a 7-year high of more than $3.
Meanwhile, CryptoSlate’s analysis of Larsen’s wallet shows that the first transaction occurred on Jan. 6, with 10 million XRP sent to Coinbase. A second transfer followed on Jan. 16, moving 20 million XRP to an unidentified address. Another 10 million XRP left his wallet on Jan. 22. On Jan. 29, he executed two more transfers, each moving 5 million XRP to separate destinations of rPS9kVPbg and rhSKLjKNxi.
In total, Larsen moved 50 million XRP in January, an amount currently valued at around $155 million based on XRP’s market price of $3.10.
Despite these transfers, Larsen’s wallet still holds approximately 400 million XRP tokens, which, at the current valuation, would be worth $1.24 billion.
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