Ripple co-founder offloads $120M XRP amid market crisis
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Ripple co-founder Chris Larsen moved 50 million XRP, roughly $120–$125 million, in a single hour on October 20, a transaction that briefly reignited fears about insider selling even as the market absorbed the flow with only muted price reaction.
Social media and on-chain trackers flagged the transfer immediately, and many traders worried it could become an accelerant for selling during an already fragile period for crypto markets.
Notably, the transfer did not unfold in isolation. It came amid a string of developments tied to Ripple and the wider XRP ecosystem, including plans by a Ripple-backed firm to create a large public treasury for the token and renewed attention on potential spot-XRP ETFs.
Together, those factors have left investors asking whether the XRP transfer signals panic, profit-taking, or strategic positioning.
Insider move sparks alarm
Data from on-chain analytics firms shows the rapid movement of 50 million XRP from Larsen’s holdings.
Prominent analysts on X (formerly Twitter) framed the transfer as a classic insider exit, warning retail holders they might be used as liquidity.
The phrase “insider exit liquidity” trended briefly, and sentiment polls and comment threads swelled with scepticism.
Despite the noise, markets reacted with restraint. XRP’s price remained broadly in line with the broader market, slipping only a little in the hours after the transfer.
Trading volumes rose, and derivatives metrics showed traders re-entering positions — a sign that activity increased even if directional conviction did not.
Evernorth link changes the context
Within hours, more clarity emerged. Larsen confirmed that the on-chain transfer related to an investment in Evernorth, a new Ripple-backed firm pursuing a Nasdaq SPAC listing through a proposed merger with Armada Acquisition Corp.
The company aims to build a regulated vehicle with a large XRP treasury, and Larsen has pledged tokens toward that plan.
Evernorth has reportedly secured significant early commitments from heavy hitters, including a $200 million anchor from SBI Holdings and backing from exchanges and funds such as Kraken and Pantera Capital.
The firm’s stated goal is to raise up to $1 billion in gross proceeds to buy XRP for its treasury, and that institutional framing has softened some of the initial criticism by reframing the transfer as a strategic allocation rather than an outright dump.
Still, the Evernorth tie does not erase long-standing investor sensitivity to Ripple insider moves.
Larsen still controls billions of XRP, and critics point out that large transfers by executives have historically caused concern — even when their motives are benign.
XRP price outlook
Technically, XRP has been confined to a tight corridor since an October pullback, trading between roughly $2.30 and $2.50.
Near-term support sits around $2.36–$2.40 according to multiple analysts, and a failure below those levels could open the path to lower supports near $2.29 or even toward the $2.00 zone if selling intensifies.
Conversely, reclaiming $2.50 with strong volume would flip the narrative and could clear the way for a move back toward $2.75 and then the $3.00-plus targets that traders have eyed.
Other analysts set incremental resistance levels at $2.46, $2.64 and $2.72, while Fibonacci-based targets place the next meaningful upside at about $3.12, followed by $3.85 and $4.46 if momentum returns.
The post Ripple co-founder offloads $120M XRP amid market crisis appeared first on Invezz
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