In a surprising turn of events, more than 2.7 billion XRP, valued at over $7.18 billion, are still on XRP addresses that Ripple co-founder Chris Larsen activated early, according to ZachXBT.
Significant activity has occurred at these addresses linked to Larsen, including the January 2025 transfer of over $109 million worth of XRP to exchanges.
The move comes as XRP price has been trading up, contrary to other market peers. At the press time, the token is trading at $2.64, up 16.91% as compared to the same time last day.
Larsen’s XRP Transaction Market Impact
Considering the size of the holdings and the possible market impact, this transfer is a substantial move. The deals follow Larsen’s $112 million hack in 2024, underscoring the continued dangers prominent cryptocurrency personalities confront.
Larsen’s XRP holdings are still sizable in spite of the attack, and the latest action might be a sign of preparations for future trading or liquidity needs.
This incident highlights the continued unpredictability and security issues in the cryptocurrency field, especially for prominent investors and founders like Larsen whose decisions have a significant impact on the market.
Chris Larsen 2024 Wallet Hack: What Had Happened?
Chris Larsen, a co-founder of Ripple, had a serious security breach in 2024 when his account was compromised, allowing $112 million worth of XRP to be stolen.
Despite the increasing use of blockchain technology, the breach exposed flaws in the industry and sparked worries about the security of well-known cryptocurrency personalities.
The incident has spurred more conversations about improved security protocols for cryptocurrency exchanges and digital wallets. With more than 2.7 billion XRP remaining safe in his accounts, Larsen’s holdings are still sizeable despite this setback, indicating his ongoing commitment and faith in Ripple’s and the cryptocurrency market’s future.
Also Read: Ripple Undertakes $250K Donation for Hurricane Helene and Milton Relief
XRP Price Prediction: What to Expect?
The present sentiment for XRP is bullish, according to most technical indicators, and the Fear & Greed Index is currently at 33 (Fear). Over the previous 30 days, XRP had 14/30 (47%) green days and 7.98% price volatility.
With 25 technical analysis indicators indicating optimistic signals and 6 indicating negative signals, the overall sentiment for the price prognosis of XRP is bullish.
An indicator that is widely used to determine if a cryptocurrency is overbought (above 70) or oversold (below 30) is the Relative Strength Index (RSI) momentum oscillator. The XRP market is now in a neutral position, as shown by the RSI number of 62.75.
Also Read: Ripple Vs SEC: Lawsuit Settlement Speculation Grows Amid SEC’s Changing Stance While XRP Drops 9%