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Ripple’s co-founder and chairman, Chris Larsen has recently sold 50 million XRP tokens for the first time in 11 years, equivalent to $ 50 million. This large transaction caught people’s attention in the Crypto community and raised questions as to why this transfer was delayed so much.&nbsp; Major Development After Ten Years&nbsp; 
The particular transaction, which bloc tracker has taken into account, was of interest to admirers of XRP and analysts. One of the personalities that prefer not to undertake huge token operations is Chris Larsen, and he did not make any major moves as well. Nevertheless, such recent actions only raise concerns over their future plans on Ripple or XRP.&nbsp; 
Most of the times for more than a decade Larsen had retained most of his XRP and it was an occasion when he transferred some of it. Such an abrupt change in the Bitcoin holdings has sparked the debate on factors that could be pushing his decision to transact such a large amount of cryptocurrency.&nbsp; Ripple’s Ongoing Legal Challenges&nbsp; 
That is why Larsen may have been prompted to do so by the ongoing Ripple-SEC litigation. Ripple has been in trouble by the question of whether XRP is a security in legal courts of law as a lawsuit that began in 2020. Albeit the verdict is still inconclusive, the latest judicial decisions, however, slightly tilted in Ripple’s favor.&nbsp; 
However, with this legal cloud hanging over Ripple, Larsen’s transfer could mean the strategic financial moves. Maybe he might be protecting himself for any result that may come from the litigations, reinvesting, or diversifying the investments. Future of XRP&nbsp; 
Apart from the current legal issues, the future of this token is still under discussion among the representatives of the crypto community. XRP, the digital asset that is native to Ripple payment protocol, continues to hover among the leading digital currencies in terms of market capitalization. Ripple already has partners all over the world and it is constantly enlarging its network of partners especially in Asia and the Middle East for the realization of cross-border transactions.&nbsp; 
This action of Chris Larsen might indicate that he has confidence in the future of XRP or it might be some strategic change according to the current market. Whether this transfer is part of a general trend associated with Ripple’s development or potential application for XRP in the international financial system remains to be revealed.&nbsp; Speculations and Market Reactions&nbsp; 
Larsen’s transaction also generated some market speculations regarding the effects of the transaction on the price of XRP. In the past, large volume transfers of cryptocurrencies, especially from industry heavyweights, are known to sway the general public opinion. However, at the time of transfer it may be noted that price of XRP did not fluctuate significantly, which does not depict transfer as an act of selling the currency or its anticipation of some change in the market soon.&nbsp; 
Chris Larsen’s decision to sell 50 million XRP after 11 years is an interesting event in Ripple and XRP environment. Whether it is linked to legal issues, change of trend in investments or various other factors; nobody but time will tell. For now, the crypto community will be observing this decision keenly to decipher its implication on Ripple, XRP and the future of Decentralized finance.

Ripple Co-Founder Chris Larsen Transfers $50M XRP for the First Time in 11 Years

Todayq News

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