TLDR
- Ripple Chairman Chris Larsen transferred 50 million XRP from his personal wallet this week.
- CryptoQuant analyst Maartunn claimed Larsen was dumping XRP on retail investors.
- XRP community members quickly refuted the claim and provided context for the transaction.
- Legal expert Bill Morgan confirmed the XRP was invested in Evernorth, not sold on the market.
- Evernorth is a newly launched XRP treasury backed by Ripple and SBI Holdings.
Ripple Chairman Chris Larsen transferred 50 million XRP this week, sparking criticism from CryptoQuant analyst Maartunn on social media. He alleged that Larsen offloaded tokens while XRP holders continued holding, raising fears of a market dump. However, XRP experts quickly dismissed the claim, clarifying that the transfer was an investment, not a cash-out.
Maartunn Sparks Outrage Over 50 Million XRP Transfer
Maartunn alerted the XRP community on X after Larsen moved 50 million XRP from his personal wallet. He suggested that while XRP investors held their tokens, Larsen was quietly exiting the market. He repeated claims made in July, accusing Larsen of using retail buyers as a means of exit liquidity.
🚨 NOW: Chris Larsen (Ripple co-founder) just offloaded 50M $XRP (worth ~$120M) in the past hour.
Still buying the hype?
He’s cashing out.
You’re holding the bag. pic.twitter.com/mwEPR0MAl6— Maartunn (@JA_Maartun) October 20, 2025
The analyst cited on-chain data to support his theory and urged holders to rethink their position. His post quickly drew attention, amplifying concerns about large XRP movements that could affect market confidence. However, Maartunn did not provide evidence that Larsen actually sold the tokens for fiat.
Despite previous accurate tracking of Larsen’s wallet movements, this latest claim received immediate pushback. Community members questioned the timing and context of the accusation. They emphasized the importance of understanding the purpose behind large XRP transactions before drawing any conclusions.
XRP Community and Legal Experts Respond with Clarity
Prominent XRP supporter Vet argued that critics often react without confirming the facts behind wallet movements. He stated, “People react to headlines but ignore the purpose behind the transfer.” His comment aimed to counter panic caused by incomplete information.
Legal expert Bill Morgan also addressed the issue directly through social media. He explained that the transfer went to Evernorth, the new XRP treasury company. “This was not a cash-out,” Morgan emphasized, dismissing claims that retail investors were misled.
He reiterated that Larsen still holds a significant XRP position and supports the asset in the long term. Morgan emphasized Larsen’s transparency about the move ahead of the transaction. He added that the context behind the transaction was publicly available before the speculation began.
Larsen Confirms XRP Investment in Evernorth
Larsen confirmed he invested the 50 million XRP into Evernorth, not sold it on the market. He noted that on-chain trackers would see the transaction and clarified the intention in advance. This aimed to avoid any confusion or misinterpretation of the significant XRP movement.
Evernorth launched publicly this week in partnership with Armada Acquisition Corp II. The firm revealed plans to raise $1 billion and purchase XRP from open markets. Major backers include Ripple and SBI Holdings, demonstrating strong institutional support for the project.
According to Evernorth’s release, Larsen’s 50 million XRP supports the company’s initial liquidity pool. The treasury will hold the XRP as part of its reserves, rather than offloading it to retail. This contradicts claims made by Maartunn and reduces concerns of a retail-targeted sell-off.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
