A blockchain investigator discovered a series of dormant XRP wallets linked to Ripple co-founder Chris Larsen, which had over 2.7 billion XRP. These holdings are worth around $7.18 billion. Some of these wallets had been idle for six to seven years before unexpectedly reactivating in January 2025.
Old Wallets Begin Moving Large Amounts
The once-idle wallets did not remain quiet for long, crypto sleuth ZachXBT disclosed. More than $109 million in XRP transactions were registered, with cash going to prominent exchanges such as Coinbase, Bitstamp, and Bybit. This unexpected activity has prompted doubts regarding the timing and purpose of the transfers.
Some in the cryptocurrency world worry if Larsen lost access to the wallets and only recently regained control. Others suspect that the money changed hands a long time ago, possibly as early as 2013. ZachXBT remarked that it is unclear whether Larsen still has direct control over all of these wallets.
XRP: Market Impact And Price Surge
The timing of these wallet activations coincided with a key announcement by US President Donald Trump. He outlined ideas for a strategic cryptocurrency reserve that comprises XRP, Bitcoin, Ethereum, Solana, and Cardano.
This revelation caused a sharp price uptick in XRP: from $2.23 to a peak of $2.93 and then to $2.60, translating to an 18% increase. Investors and traders paid attention, with some conjecturing that the value increase was connected to the wallet movements.
Previous Transfers Add More Questions
Larsen’s transactions have made headlines before. Back in September 2020, he transferred approximately 500 million XRP, worth $115 million at the time, to an unidentified address. He later explained that the move was to NYDIG for security purposes.
Nonetheless, others in the cryptocurrency field suspected that there could have been other motivations, although there was no substantial proof to corroborate those assertions.
What Comes Next?
Discussions have resurfaced in response to recent developments. Is this just ordinary fund management, or is there something bigger going on? The answers are still unknown.
As the XRP community monitors these wallets, speculation persists. Will there be other significant transfers? Could this have a further impact on the XRP market price? While no one can say for sure, one thing is certain: when billions of XRP start moving, people will know and start to make some noise.
Featured image from Pexels, chart from TradingView
Christian Encila
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
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