{"id":19768,"date":"2024-09-23T09:00:14","date_gmt":"2024-09-23T09:00:14","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/?p=19768"},"modified":"2024-09-23T09:00:14","modified_gmt":"2024-09-23T09:00:14","slug":"ripple-co-founders-significant-xrp-transfer-triggers-market-anxiety-and-wallet-security-worries","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/ripple-co-founders-significant-xrp-transfer-triggers-market-anxiety-and-wallet-security-worries\/","title":{"rendered":"Ripple Co-Founder’s Significant XRP Transfer Triggers Market Anxiety and Wallet Security Worries"},"content":{"rendered":"\n

A wallet associated with Chris Larsen, a major stakeholder in XRP, has conducted a significant transaction indicating potential selloff activity. This transfer, made within the last 48 hours, has instigated a chain of transfers leading to the Binance exchange.<\/p>\n

The transaction involved shifting 20 million XRP tokens from Larsen’s wallet to a private wallet linked to sales on Binance.<\/p>\n

<\/span>Analyzing Recent Transactions<\/b><\/span><\/h2>\n

To provide context, Christensen, co-founder of Ripple, previously moved 50 million XRP<\/a> to the wallet \u201craorBm\u201d on September 16. This transaction raised eyebrows among XRP fans as the receiving wallet had not seen significant outflows previously.<\/p>\n

Even though the 50 million XRP transaction was considerable, it represented only a fraction of the wallet’s total assets. At that time, the \u201craorBm\u201d address held roughly 450 million XRP, making it one of the largest individual wallets in the XRP network.<\/p>\n

After the transfer to \u201craorBm,\u201d there was a period of inactivity where the intent behind the transaction remained unclear. However, on September 20, \u201craorBm\u201d began a series of transactions, moving 20 million XRP in four separate transactions of 5 million XRP each to another wallet known as \u201crHoXdf\u201d<\/a>. As of the latest update, \u201craorBm\u201d retained 30 million XRP from the original 50 million tokens.<\/p>\n

<\/p>\n

Recently, the narrative has shifted. The 20 million XRP sent to \u201crHoXdf\u201d was further transferred to a new private wallet \u201crJYpdF\u201d<\/a>, suggesting a final arrangement before a potential selloff into Binance. A final indication came when 2 million XRP was transferred from the \u201crJYpdF\u201d wallet to a Binance wallet within the last 24 hours.<\/p>\n

<\/span>Is a Selloff Imminent?<\/b><\/span><\/h2>\n

The last transaction signals that the earlier transfer of 50 million XRP from Chris Larsen’s wallet might have been intended for a sale. Therefore, it’s reasonable to anticipate a selloff into Binance shortly, perhaps involving the 20 million XRP tokens.<\/p>\n

There is also speculation that this transfer might stem from unauthorized access to one of Larsen’s wallets. Earlier this year, similar transactions linked to him occurred after a hack that drained 213 million XRP valued at $120 million. However, these remain conjectures as Larsen has not made any public statements regarding the recent transfers.<\/p>\n

Image source: Getty Images, chart via TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A wallet associated with Chris Larsen, a major stakeholder in XRP, has conducted a significant transaction indicating potential selloff activity. This transfer, made within the last 48 hours, has instigated a chain of transfers leading to the Binance exchange. The transaction involved shifting 20 million XRP tokens from Larsen’s wallet to a private wallet linked […]<\/p>\n","protected":false},"author":1,"featured_media":19769,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Ripple Co-Founder's Significant XRP Transfer Triggers Market Anxiety and Wallet Security Worries - Bitrabo","description":"A wallet associated with Chris Larsen , a major stakeholder in XRP, has conducted a significant transaction indicating potential selloff activity. This transfer"},"footnotes":""},"categories":[316],"tags":[8761,5604,991,559,1854,1430,561,575,3631,8762,7937,1393,1161,8763,517],"class_list":["post-19768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-20-million-xrp","tag-co-founder","tag-cofounder","tag-concerns","tag-fears","tag-hack","tag-million","tag-ripple","tag-selloff","tag-selloff-fears","tag-sparking","tag-transfers","tag-wallet","tag-wallet-hack-concerns","tag-xrp"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/19768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=19768"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/19768\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/19769"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=19768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=19768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=19768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}