Chris Larsen Transfers 50,000,000 XRP to an Unknown Wallet

Chris Larsen has transferred 50,000,000 XRP to an unknown wallet. This transaction is gaining traction within the community, and it is indeed noteworthy if the Co-Founder of Ripple decides to execute a transfer of its native token. They were collectively worth approximately $29,120,312 at the time of transfer. The move comes days after Larsen expressed his desire to support Kamala Harris as the next President of the United States.

Interestingly, Brad Garlinghouse joins him to support Harris’s campaign. Members of the XRP community have started guessing the reasons behind it, considering no such official statement has come from Chris till now. Some members said that something was happening behind the curtains, while others guessed that tokens were probably going to Kamala Harris for her presidential campaign.

Transferring XRP tokens to an unknown wallet has had little impact on the token value. XRP is up by 3.02% in the last 24 hours and is exchanging hands at $0.5863 at the time of writing this content. It further reflects a surge of 9.28% in the last 7 days and a jump of 3.66% in the last 30 days. Ripple’s token has outperformed the likes of BTC and ETH in a single day, which is remarkable. XRP predictions suggest that the token will continue its upward trend if key factors remain favorable.

Re-listing on Robinhood and a decreased likelihood of the SEC filing an appeal are two key factors that may have contributed to the price surge.

Robinhood, a commission-less exchange platform, has reportedly relisted XRP. Traders cannot yet start trading the token, but it is available on Robinhood. If true, then it is indeed a massive development for the Ripple community, and a surge in token value is obvious. The next target for XRP is to hit the high of July 2024, which was $0.6602.

The SEC is less likely to file an appeal over the Ripple vs. SEC lawsuit judgment. It has a 60-day deadline, starting with the judgment. If not appealed, then the verdict will hold its validity without any challenge. Additionally, it is likely that issuers will explore methods to introduce the XRP ETF into the market by the end of the next year, that is 2025. That will add another crypto ETF to the list and give it a final status in the market.

The near-term predictions for XRP are bullish. In the next 30 days, the token is projected to increase in value by 20.12%, reaching an estimated value to $0.706903, amidst a volatility of 4.36%. Prevailing sentiments are bullish despite the FGI of 33 points, which only demonstrates investors’ fear emotions.

Token transfers to an unknown wallet may indicate a desire to hold onto the token as long as possible. In the end, it is about taking profits back home. Therefore, offloading will only occur when the market is ready or pointed in that direction.