Ripple Co-Founder Chris Larsen Moves 50 Million XRP After 11 Years
Speculations and Market Reactions
The activation of Larsen’s new wallet, identified as raorBmbz.., has sparked various speculations among XRP holders. Many are linking this transfer to Ripple’s ongoing legal proceedings with the U.S. Securities and Exchange Commission (SEC), especially as the case nears a potential resolution without further appeals. Some believe the timing of this transfer is linked to the outcome of the lawsuit, adding to market intrigue.
Political Connections and Contributions
Adding to the speculation are rumors about potential political motivations behind the transfer. Chris Larsen has been vocal about his support for Democratic presidential candidate Kamala Harris and is one of 88 prominent executives who have endorsed her. However, Ripple CEO Brad Garlinghouse emphasized the company’s neutral stance on politics, stressing that blockchain technology should not be judged through a partisan lens, despite differing opinions on crypto regulations from political figures.
XRP Price Surge and Future Outlook
The news of Larsen’s XRP transfer triggered a 4% price surge, pushing XRP’s trading price to $0.586. Trading volume increased by 11%, signaling heightened trader interest. Crypto analysts are optimistic about XRP’s future, with some predicting a price rally to $0.75. This bullish outlook is supported by the recent legal classification of XRP as a non-security, which has helped boost market confidence.
