The post Ripple Co-Founder Shifts $60.5M in XRP During SEC Appeal appeared on BitcoinEthereumNews.com.

Chris Larsen’s transfer of 20 million XRP valued at $60.67 million amid ongoing SEC legal issues stirs market speculation. XRP’s 45% weekly surge to $3.31, driven by ETF optimism and market resilience, defies SEC-related uncertainties. Chris Larsen, co-founder of Ripple, transferred XRP coins valued at $60.67 million to an unidentified wallet, creating a stir in the crypto market. Whale Alert reported that 20 million tokens were involved in the transfer. The development occurred amid Ripple’s ongoing legal dispute with the US SEC and a recent surge in XRP’s price, drawing significant attention from investors. Source: Whale Alert The timing of this massive transfer is notable, as it coincides with renewed debates surrounding XRP’s classification as a security. Earlier, a US court ruled that XRP was not a security, dealing a blow to the SEC’s stance. However, the SEC has since filed a fresh appeal challenging that decision, reigniting uncertainty in the market. 80 Million XRP Moved in 5 Months Larsen’s transaction history provides some context. Last September, his wallet moved 50 million XRP to an unknown address, marking its first high-value activity since its creation in 2013. Following that, Larsen reportedly liquidated part of the assets and took two weeks to sell off the remainder. This recent transfer of 20 million XRP is part of a broader trend. Since January, his wallet has moved 80 million XRP within just five months, following 11 years of dormancy. On January 6, Larsen sent 10 million XRP directly to Coinbase, further fueling rumors of a liquidation strategy. Currently, Larsen’s wallet holds 420 million XRP, down from the 500 million initially received in 2013. However, XRPScan data reveals that Larsen controls a staggering 2.72 billion tokens across six wallets, solidifying his significant stake in the ecosystem. XRP Surges 45% in a Week — What’s…

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Filed under: News - @ January 16, 2025 10:25 pm