According to CryptoQuant analyst J.A. Maartun, Ripple co-founder Chris Larsen has dumped a total of $200 million worth of XRP tokens over the past 10 days alone.
"Still buying? You're the exit liquidity. He's dumping on you. Think twice," Maartun warned in his social media post on X.
According to Forbes, Larsen's total net worth currently stands at $10.8 billion. This makes the Ripple co-founder the 264th richest person in the world.
How many tokens does Larsen own?
Laren's total XRP holdings stand at roughly 2.8 billion tokens, according to recent estimates. The entrepreneur received them as part of the pre-mine that took place in 2012. Ripple co-founders received 20% of the token's total supply, with Larsen initially getting a total of 9.5 billion tokens.
As reported by U.Today, XRP logged its worst daily drop since April on Wednesday.
Earlier today, the token briefly plunged below the $3 level before the bulls managed to regain some ground.
Vladislav Sopov
U.Today Editorial Team