- Ripple’s Former CEO Chris Larsen, Moves 499,999,979 XRP Tokens in a Single Transaction
- XRP is Still Declining Following Drop to the $0.23 Level
XRP Price Prediction – Today, the former CEO of Ripple, Chris Larsen, sent over 499,999,979 XRP tokens to an unknown wallet. Larsen, who is also an angel investor, was one of the founding fathers of Ripple and its XRP token. The transaction was initially spotted by whale alert and Larsen acknowledged that it was from him. Shortly after the post from Whale Alert, Larsen said that the XRP tokens were transferred to New York Digital Investment Group, a Manhattan-based company. New York Digital Investment Group offers its clients cryptocurrency-related products and services. Whale investors are also offered asset management.
Ripple News Today – Larsen Transfers his Funds for Safe Keeping
Larsen said that the funds were sent because he believes that NYDIG is the perfect fit for him. In his words;
“As some of you may have noticed, I moved an $XRP wallet to NYDIG. I’ve known the founders for a while, and am impressed by their security and top-notch institutional standards.”
Larsen’s interest in NYDIG isn’t surprising since the firm is one of the largest and best Bitcoin institutional investors in the world. They have been expanding since they received their BitLicense in 2018. Even if Larsen is no longer the CEO of Ripple, he is still entitled to a significant portion of XRP tokens as part of the contract he and other executives signed. However, they all agreed never to sell all their tokens at once or at a significant percentage during a short time. Larsen isn’t selling his tokens. He only transferred them to NYDIG for safekeeping and as an investment.
In other news, the XRP token is facing significant selling pressure at this time. The decline from the $0.26 level to the $0.23 level has left the token trading in a range. At the time of writing, the price of XRP was $0.231892. This means that it is down by 0.67% against the USD and down by 0.37% against Bitcoin BTC. The trading volume over a 24 hour period was $1,587,902,154 and the market capitalization was $10,457,727,033.
The XRP token must rise above the $0.27 level to kick-start a bull rally. However, it’s not clear when this will happen since Ripple XRP is moving in line with Bitcoin BTC and other altcoins. Bitcoin BTC is trading at $10,461.21. This means that it is up by 0.33% against the USD but still far from the $12k level it breached successfully last week. For XRP and other tokens to make progress, it is important Bitcoin resumes the bullish rally.