Ripple’s Chairman Chris Larsen recently moved 50 million XRP from a long-dormant wallet, stirring up speculation across the crypto community. The wallet in question had not seen significant activity since its creation in February 2013, when it was funded with 500 million XRP. Since then, only 1 token had been moved out in December 2017, until now.
This recent transfer, indexed by Whale Alert, occurred on September 16, at 23:17 UTC. Larsen sent 50 million tokens, valued at $29.12 million, to an unidentified address—rao…gzS. This address was created specifically for this transfer, leading to heightened curiosity.
On-chain data shows that Larsen activated the recipient wallet just minutes before the transaction, sending 10 XRP at 23:11 UTC to open it. This move suggests that the transaction was authorized by Larsen himself, rather than a hacking incident. Earlier in February, hackers had stolen millions in XRP from one of Larsen’s wallets, siphoning off 212 million tokens. However, the details surrounding this latest movement indicate a more controlled transfer.
XRP Still Held: No Signs of Security Breach Yet
As of now, the recipient wallet still holds the 50 million XRP, further quelling concerns about any security breach. Despite this, speculation about the purpose of the transfer runs wild. Some lighthearted theories even suggest the funds might be linked to Kamala Harris’s presidential campaign, as Larsen recently voiced support for her along with 87 other business executives.
At the time of writing, the market value of XRP sits at $0.5824, with a 24-hour volume of $1.07 billion. The token’s price has remained relatively stable, showing a minor increase of 0.21% over the past day. Despite these modest movements, the whale transfer has reignited discussions about major players like Larsen influencing the market.
This mysterious transaction leaves the crypto world watching closely, as more developments could surface.
