Ripple co-founder Chris Larsen has come under fire over a recent transaction he conducted. Amid the crypto market rally, the company’s executive moved XRP worth millions of dollars to multiple addresses.
Blockchain investigator ZachXBT disclosed that Larsen transferred a total of 50 million XRP, worth approximately $175 million since July 17, 2025, to four addresses. This includes $140 million transferred to exchanges/services and $35 million sent to two new addresses.
Allegations of Strategic Selling Spark Debate
While some crypto enthusiasts supported the company’s move, others expressed their displeasure. An X user noted that “Ripple has not been a transparent network since the beginning.”
The transfer initiated by Larsen coincided with XRP reaching a local high of $3.62. Following this, the asset retraced to $3.10 levels. However, the altcoin has surged, trading at $3.23%. The correlation between the two events led to allegations of opportunistic market activity.
Following the transaction, another community member stated that they were tired of insiders consistently selling off their tokens. While this user was worried about the executive dumping the token, another user defended Larson.
As of press time, Larsen had yet to issue any public statement regarding the transactions. According to data from CoinGecko, XRP has a market capitalization of over $191 billion and a trading volume of more than $12.5 billion.
Data suggests that Larsen’s current holdings represent approximately 5.6% of XRP’s total market cap—a concentration that could exert significant downward pressure on the market if they were to be liquidated.
Following the latest development, Jake Claver of Digital Ascension Group predicted that XRP would skyrocket to $2,000 by the start of 2026. However, the asset has not surpassed its all-time high (ATH) of $3.84 reached in 2018.
Altcoins Ride Wave of Market Optimism
With the bullish trend in the crypto market, the digital asset is likely to break new highs. Interestingly, XRP is not the only altcoin that has performed significantly well. Recently, SOL reached a peak of $206 before declining to $188.33.
Binance Coin (BNB), on the other hand, broke through a new high this week. The asset surpassed the $800 price level, a mark never reached before. Additionally, the asset flipped SOL to become the fifth-largest crypto by market cap.
Ephraim Emmanuel | August 27, 2026
