- Chris Larsen, the guy who co-founded Ripple, has pulled in $764,209,610 worth of profit from selling XRP. That all started back in 2018.
- J. A. Maartunn works as an analyst at CryptoQuant, that on-chain analytics platform. In a post on X, he told XRP holders about Larsens habit.
- Still, the community market sentiment projects a bullish signal for the coin.
Chris Larsen stands as one of Ripples main co-founders. He has pulled in roughly 764.2 million dollars in gains by offloading XRP tokens since back in 2018. That kind of number really has folks in the investor crowd pondering what it could mean for XRP trying to climb back up in value.
A Pattern of Profit-Taking
Analyst J.A. Maartunn points out that Larsen tends to sell when ripple hits the highs, which might add some downward push on the price. Some see it as a smart way to lock in gains after holding long term. Others wonder if the timing feels a bit too convenient, shaping how the price moves these days.
Also Read: Evernorth Launches $1 Billion XRP Treasury with Ripple and SBI Holdings Support
XRP Price Implications
For the XRP/USD pair to show signs of turning around, it has to get back above the 200-day simple moving average around $2.42. Breaking past that could open the door to pushing toward $3.00 or more in the near term. On the flip side, if it stays below, the selling might keep weighing things down a little longer.
The relative strength index is putting up a bullish divergence these days. This setup suggests the recent price drop could be running low on momentum pretty much. If a bullish crossover shows up in the moving average convergence divergence, that might deliver some solid push to whatever upward move comes next.
Also Read: Ripple USD (RLUSD) Reaches $900 Million as Brale Brings Regulated Stablecoins to Ripple’s Ledger
Future Outlook
Larsen still holds roughly $9 billion worth of XRP, so more sales could mean ongoing pressure from that side. People are keeping watch on spots like the 50-day simple moving average between $2.38, plus the 100-day at $2.41. Crossing those could mean a steadier climb ahead as the market shifts.
How Larsen’s sales end up affecting the coin’s price is still up in the air for now. Technical signs lean toward a possible upturn, yet the ongoing sales add a layer of uncertainty to watch. In this shifting crypto space, staying alert to these levels and trends will help to sort through the upsides and hurdles for what might come next with XRP. Currently, the community market sentiment also projects a bullish phase for the coin.
Also Read: XRP Poised For Bullish Move As Market Eyes $2.75 Target
