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Analysts warn that the XRP wallet linked to Chris Larsen still has 9 billion dollars to sell.
XRP investors are being warned that they could become a "liquidity exit" after Ripple co-founder Chris Larsen moved 50 million XRP to the exchange. According to J.A. Maartunn from CryptoQuant, this amount of XRP is just "a drop in the ocean" compared to the total of 2.58 billion XRP ( about 8.83 billion USD ) that Larsen is holding.
XRP once approached the historical peak of $3.60 on July 17, but the sell-off from Larsen's wallet has left the community unsettled. Some view this as a normal profit-taking action, while others believe that Larsen intentionally sold at the peak.
Maartunn warns that selling pressure may increase sharply if Larsen continues to withdraw more tokens. "If 200 million USD is just the warm-up... what will happen next?" he asked.