Ripple Co-Founder Chris Larsen Connected to Billions in Inactive XRP Accounts
- ZachXBT uncovered dormant XRP wallets linked to Ripple co-founder Chris Larsen, holding around $7.18 billion, with some inactive for 6-7 years
- Transaction records show that in January 2025, over $109 million worth of XRP was moved to exchanges like Coinbase, Bitstamp, and Bybit, fueling speculation
- Following the news, XRPs price surged 18%, rising from $2.23 to a high of $2.93 before closing at $2.60
Blockchain researcher ZachXBT has discovered that some wallets set up by Ripple co-founder Chris Larsen still contain $7.18 billion in XRP.
These accounts have remained inactive, yet they continue to hold a massive amount of the crypto token. His findings have sparked discussions within the crypto community about the significance of these untouched funds.
Chris Larsens Dormant Ripple (XRP) Wallets Becomes Active Again
ZachXBT recently shared in his Telegram group that wallets created by Ripple co-founder Chris Larsen still hold over 2.7 billion XRP, valued at around $7.18 billion.
Many of these accounts have been inactive for 6-7 years. His findings came up a short while after President Donald Trump revealed his plans for a U.S. strategic crypto reserve, which will include XRP, Bitcoin, Ethereum, Solana, and Cardano.
Transaction records show that in January 2025, the account had a significant move with more than $109 million worth of XRP being transferred to different exchanges like Coinbase, Bitstamp, and Bybit, this action has caused more debate about these holdings.
ZachXBT gave more details about his discovery, noting that many of these wallets have not been used for 6-7 years. He suggested that Larsen probably lost access to the account or transferred funds to others in February 2013. However, he also pointed out that Larsen might no longer control all of the identified accounts.
This is not the first time Larsens crypto transactions have raised speculations about possible XRP sales. In September 2020, he moved about 500 million XRP, which was valued at $115 million at the time, to an unknown destination.
https://x.com/chrislarsensf/status/1308459310574264325?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1308459310574264325%7Ctwgr%5Ee82288020ac9459c08911406759309c10a7e0cfe%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fcrypto.news%2Fzachxbt-alerts-investors-to-ripples-chris-larsen-xrp-addresses-holding-7-18b%2F
He later clarified that the transfer was to NYDIG for better security. However, some in the community speculated that this setup could allow hidden selling, though no solid proof has confirmed these claims.
The market reacted quickly to the news, causing XRPs value to rise by 18%. It rose from a daily low of $2.23 to about $2.93 before settling around $2.60 at the close.
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Text source: TronWeekly
