Key Points
- Blockchain security analyst ZachXBT reported that Larsen’s wallet transferred around $109 million.
- The transfers took place on January 6, 16 and 22, on-chain data shows.
According to the latest reports shared via X by blockchain security analyst, ZachXBT, over $109 million in XRP were sent to crypto exchanges including Coinbase, Bitstamp and Bybit this month.
XRP Transfers Details
According to ZachXBT’s post, the amount was sent from a wallet starting with rhREXV which was activated by Ripple’s co-founder, Chris Larsen.
According to the analyst, the wallets he activated still hold several billion dollars worth of XRP on-chain.
Someone said that the wallet was activated by one named “Chris Larsen” but it might have been a Ripple wallet, given the fact that it was activated in 2013.
On-chain data shows that on January 6, 2025, the wallet Chris Larsen sent XRP to Coinbase which might have been a test transfer. On the same day, he sent a more significant amount, 10 million XRP to the crypto exchange.
Another significant transfer to an address beginning with rPS9k was made on January 16, totaling 20 million XRP. The same address received from Larsen 10 million XRP on January 22 as well.
Benjamin Celermajer, Director at Magnet Capital crypto investment manager, shared a historical representation of XRP leaving founder/foundation wallets since 2013.
XRP Founder/Foundation Transfers Since 2013
In a post on X, Celermajer said that “at least they’re consistent”, and shared a graph showing XRP moves from back in 2013.
According to the data from CoinMetrics, by 2014, around 5 billion XRP were transferred, while by 2024 over 50 billion XRP were transferred.
XRP Price Today
Regarding XRP’s price today, at the moment of writing this article, XRP is trading at $3.1, up by almost 0.5% in the last 24 hours.
XRP currently has a market cap of over $178.8 billion and a 24-hour trading volume of $6.85 billion.
Earlier today, the coin dipped to around $2.98, before a rebound at current price levels.
