Ripple's Co-Founder Tied to Billions in Unmoved XRP Holdings
1min read Ripple Co-Founder Linked to Billions in Untouched XRP Holdings, Crypto Sleuth Reveals
In a recent revelation, a crypto sleuth has uncovered a significant connection between Ripple co-founder Chris Larsen and a substantial amount of untouched XRP holdings, potentially worth billions of dollars. This discovery has sparked fresh interest in the cryptocurrency market and raised questions about the distribution and control of XRP, the third-largest cryptocurrency by market capitalization.
The crypto sleuth, who wishes to remain anonymous, has been tracking the movement of XRP tokens and has identified a large number of untouched holdings linked to Larsen. These holdings, which have not been moved or traded in years, are believed to be part of the initial allocation of XRP tokens created by Ripple in 2012.
The discovery of these untouched holdings has led to speculation about their potential impact on the XRP market. Some analysts suggest that if these tokens were to be released into the market, they could significantly increase the supply of XRP and potentially drive down its price. However, others argue that the impact would be minimal, as the market has already priced in the existence of these holdings.
Ripple, the company co-founded by Larsen, has been at the center of controversy surrounding XRP and its distribution. In 2018, the Securities and Exchange Commission (SEC) filed a lawsuit against Ripple, alleging that the company had sold unregistered securities in the form of XRP tokens. The case is still ongoing, and the outcome could have significant implications for the cryptocurrency market.
Despite the ongoing legal battle, Ripple has continued to develop and promote its blockchain-based payment network, which uses XRP as a native currency. The company has also been working to expand its partnerships and collaborations with financial institutions and other organizations, in an effort to increase the adoption of XRP and its underlying technology.
The discovery of the untouched XRP holdings linked to Larsen has added a new layer of complexity to the ongoing debate surrounding the cryptocurrency. As the market continues to evolve and grow, investors and analysts will be watching closely to see how these holdings are ultimately distributed and how they may impact the price and adoption of XRP.
