A wallet linked to Chris Larsen transferred 50 million XRP to new wallet addresses. Lack of clarity from Larsen regarding the purpose of these transactions has caused a stir within the XRP community

On September 20, 2024, a wallet linked to Chris Larsen that had been dormant since 2013 transferred 50 million XRP to a new wallet.

 XRP_Liquidity (Larsen/ODL Tracking) on X: "Larsen's remaining 30M from the initial 50M has been sent to Coinbase (CB) in increments of 5M. From there it was sent to another CB wallet in two transactions of 10 and 19M. From here it begins to get a little busy. I was able to trace an amount sent to another CB wallet 

Larsen's remaining 30 million XRP from 50 million sent to Coinbase in increments of 5 million.

From there it was sent to another Coinbase wallet in two transactions of 10 million and 19 million.

XRP_Liquidity (Larsen/ODL Tracking) on X: "Larsen's remaining 18M XRP was just sent as two transactions: 3M to same Binance address as yesterday; and 15M to a Bittrex activated wallet (still there). Preliminary checks reveal the 15M will be sent to Binance as well.

Larsen's remaining 18 million XRP sent as two transactions. 3 million to same Binance address and 15 million sent to a Bittrex.

The recent transfer of 30 million XRP by Ripple co-founder Chris Larsen to Coinbase has indeed caused a stir within the XRP community. This move, part of a larger 50 million XRP transfer, has led to concerns about potential large sell-offs and the overall impact on XRP’s price.

The community’s unease is heightened by the lack of clarity from Larsen regarding the purpose of these transactions. Some speculate that the transfers might be related to Ripple’s On-Demand Liquidity (ODL) service, while others worry about the possibility of a broader sell-off.