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Chris Larsen Sells Again, Boosting XRP Profits to $764M
Recent activity suggests that Ripple’s XRP remains under pressure amid ongoing profit-taking by its co-founder, Chris Larsen. With large XRp holdings being liquidated near local highs, market analysts are watching key support levels that could determine the future trajectory of the cryptocurrency. As the broader cryptocurrency markets continue to experience volatility, investor attention is focused on XRP’s technical recovery prospects and the influence of major whale moves.
Ripple co-founder Chris Larsen has realized approximately $764 million in profits from XRP sales since 2018.
XRP must reclaim the 200-day Simple Moving Average (SMA) at $2.60 for a potential bullish reversal.
Despite recent sell-offs, XRP’s long-term holdings by Larsen suggest continued selling pressure.
Market signals such as divergence in RSI and moving average indicators point towards a possible recovery.
Key levels to monitor include the $2.60 support and resistance zones around $2.74 to $2.80.
XRP has declined by approximately 34% from its multi-year high of $3.66, achieved in July, a dip partially attributed to large XRP outflows linked to Ripple co-founder Chris Larsen. The sell-off has prompted speculation about whether Larsen’s activity is merely profit-taking or part of a strategic move. Notably, Larsen has now realized over $764 million from XRP sales since January 2018, according to on-chain analytics from CryptoQuant, revealing a significant expansion in profits over recent years.
While some interpret this as prudent profit redistribution, critics argue that Larsen’s repeated pattern of cashing out near local highs indicates deliberate offloading of assets. Recent transfers, including a 50 million XRP movement confirmed as an investment in the Evernorth treasury, underscore ongoing large-scale transactions from Larsen’s holdings. According to analysts, Larsen potentially still controls up to $9 billion worth of XRP, which may continue to influence market sentiment negatively.
From a technical perspective, XRP must break above the $2.60 level—its 200-day SMA—to validate a bullish trend and aim for higher resistance points around $2.74-$2.80. Breaking the 100-day SMA at $2.94 would further suggest the downtrend could be over. Currently, bullish divergence between the price and RSI indicates increasing buying interest, while a potential bullish crossover in the MACD could provide additional upward momentum.
To rekindle a bullish trend, XRP needs to regain the 20-day EMA at $2.55. If successful, traders will look for prices to surpass key resistance zones, reinforcing the likelihood of a bullish recovery in the ongoing volatile crypto markets.
This analysis underscores the importance of monitoring key technical levels and whale activity, which remain critical for understanding XRP’s future direction amid broader concerns about cryptocurrency regulation and market stability.
This article was originally published as Chris Larsen Sells Again, Boosting XRP Profits to $764M on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.