Ripple co-founder Chris Larsen has offloaded 50 million XRP tokens, valued at approximately $120 million, in a single hour, as reported by CryptoQuant. The move, highlighted in a post by Maartunn on X, has ignited a firestorm of speculation within the crypto community.
The accompanying chart from CryptoQuant illustrates a significant address outflow, marking the first substantial sale by Larsen since July. This comes amid a broader narrative questioning whether the sale signals a lack of confidence in XRP or a strategic maneuver tied to larger market dynamics.
Clarification: Investment in Evernorth’s $1B Nasdaq Listing
The timing of Larsen’s sale coincides with the high-profile announcement of Evernorth Holdings, a Ripple-backed venture, planning a $1 billion Nasdaq listing to build the world’s largest publicly traded XRP treasury. Larsen’s contribution of 50 million XRP was intended as an investment in Evernorth, not a cash-out, as clarified by subsequent posts and Ripple insiders.
This clarification has shifted the narrative, with some viewing the move as a bullish signal for XRP’s institutional future rather than a bearish dump. However, the initial perception of “cashing out” has left many investors wary, with XRP’s price showing only a modest 2.5% increase despite the news.
Community and Analyst Reactions to Larsen’s Timing
Analysts suggest this could reflect broader market manipulation or a reallocation of assets to support Evernorth’s ambitious goals, including DeFi expansion and XRP Ledger infrastructure. The crypto space remains divided, with some praising Larsen’s long-term vision and others cautioning about the risks of holding the bag. As the story unfolds, all eyes will be on Evernorth’s Nasdaq debut in Q1 2026 and its impact on XRP’s trajectory.