Usman Salis
Chris Larsen just sold $200 million worth of XRP, but with 2.58 billion tokens still in his wallet, analysts think he's just getting started.
XRP holders better buckle up – Chris Larsen's selling spree might be far from over. The Ripple co-founder just dumped $200 million worth of XRP, and crypto analyst J.A. Maartun thinks this is just "a warm-up."
The scary part? Larsen's still sitting on 2.58 billion XRP tokens worth about $7.9 billion. That's a massive amount of potential selling pressure hanging over everyone's heads.
The timing sucks too. Larsen started selling right after XRP hit its all-time high of $3.66 on July 18. His most recent move was just two days ago – another 1 million tokens that lined up perfectly with XRP's price tanking. The token's down roughly 20% from its peak and recently dropped below $3.
According to XRPScan data, Larsen has now sold 107 million XRP since November's rally started. At current prices, that's roughly $3.3 billion worth of tokens hitting the market. His net worth? About $11.4 billion, so he's not exactly hurting for cash.
XRP (Ripple) Community Fights Back Against Sell-Off Fears
Not everyone's panicking though. Some big names in the XRP community, like lawyer Bill Morgan, don't think Larsen's sales are the main reason for the price drop. They're pushing back against the narrative that one guy is tanking the whole market.
But here's the thing – when someone with Larsen's influence keeps selling, people notice. And they start wondering if he knows something they don't.
The whole situation reminds people of Jed McCaleb, another Ripple co-founder who spent years slowly selling his XRP stash before finally stopping in July 2022. Both Larsen and McCaleb got 9 billion XRP each back in 2012 as part of the founders' allocation. The enigmatic third co-founder, who recently showed up on social media for the first time, got the remaining 2 billion tokens.
What's Next for XRP (Ripple) Price?
If Larsen follows McCaleb's playbook, XRP could face years of steady selling pressure. That doesn't mean the token's doomed, but it does mean fighting an uphill battle against constant supply dumps.
The tricky part is that Larsen's been pretty quiet about his plans. McCaleb was more transparent about his selling schedule, but Larsen's moves seem random. That uncertainty can mess with investor confidence just as much as the actual sales.
For XRP holders, this creates a tough spot. Sure, the token can still rally hard when conditions are right – that July surge to $3.66 proved that. But knowing billions in XRP could hit the market anytime makes it hard to get too excited.
The key question is whether XRP's fundamentals can outpace the selling pressure. Ripple's expanding its payment solutions, regulatory stuff is getting clearer, and there are definitely positives. But short-term, Larsen's massive stash is the elephant in the room.
Bottom line: if you're holding XRP, watch those whale wallets closely. What Larsen does next could decide if this correction is just a blip or the start of something uglier.
Usman Salis
