Ripple co-founder cashes out $760 million causing panic: transfers 50 million XRP to invest in Evernorth, beware of XRP falling below $2 support!

Ripple Executive Chairman Chris Larsen has realized a profit of $764 million through XRP withdrawals since 2018, most of which occurred in 2025. Earlier this week, Larsen transferred 50 million XRP to his Wallet for investment in the upcoming XRP treasury Evernorth. While this move timely eased community panic, it failed to stop the decline in XRP prices. On-chain data shows that Larsen has sold multiple times near local highs, exacerbating market panic. Analyst Ali Martinez warned that if the price fails to recover the 200-day MA of $2.59, XRP's next key target could fall to $2.

Larsen Profit Hits New High: Market Interpretation Behind 760 Million USD

Ripple co-founder Chris Larsen's massive realized profits highlight the significant returns of XRP as an early project, but his ongoing selling behavior near price peaks has also raised concerns in the market about whale selling pressure.

· Amazing realized profits: According to on-chain data shared by analyst Maartunn on October 23, Chris Larsen has realized $764,209,610 in XRP profits since 2018.

(Ripple co-founder Chris Larsen's XRP has achieved profitability | Source: Maartunn)

· Profit Surge in 2025: On-chain data from CryptoQuant reveals that Larsen's XRP has seen a significant profit increase in 2025, soaring from under $200 million to over $750 million, which coincides with the rebound in XRP prices, the progress of the SEC lawsuit against Ripple, and the timing of treasury announcements.

· High Point Cash-Out Mode: Analysts emphasize that Chris Larsen has a pattern of repeatedly cashing out XRP near local high points, which has led to other whales liquidating their XRP positions, even though technical analysts have provided bullish targets of $5 or even $10.

Transfer of 50 million XRP Clarification: Aimed at investing in Evernorth Treasury

Earlier this week, Larsen's transfer of 50 million XRP triggered dumping panic in the community, but he came forward in time to clarify and linked the transaction to significant investments in the Ripple ecosystem.

· Transfer and Panic Easing: Larsen confirmed that the transfer of 50 million XRP from his Wallet was for investing in the Evernorth treasury, successfully alleviating the panic in the crypto community and preventing further dumping by whales and investors.

· Evernorth treasury background: Evernorth announced it has raised $1 billion, including $200 million from SBI, along with additional investments from key industry participants such as Ripple, Rippleworks, Pantera Capital, Kraken, and GSR, highlighting the ongoing development of the XRP ecosystem.

XRP Price Analysis: Breaks Below $2.30 Support with Cautious Buying in the Derivatives Market

Despite the clarifying good news, XRP price still faces downward pressure, with declining trading volume indicating weaker interest from traders, but the derivatives market has shown some subtle bullish signals.

· Price and trading volume decline: XRP price has fallen more than 1.50% in the past 24 hours, currently maintaining above $2.30. The 24-hour trading volume has decreased by 12%, indicating a decline in trader interest.

· Key moving average resistance: On the daily time frame, the price is running below the 50-SMA, 100-SMA, and 200-SMA. The Relative Strength Index (RSI) is maintaining around 40, indicating bearish momentum.

· Downward target alert: Analyst Ali Martinez predicts that if the price continues to decline and fails to recover the 200-day MA of $2.59, the next key target could fall to $2. He expects that profit-taking for XRP will last longer.

· Cautious buying in the derivatives market: CoinGlass data shows that there has been slight buying interest in the derivatives market over the past few hours. Although the total XRP futures open interest has decreased by 1.76% to $3.71 billion in the past 24 hours, the XRP futures OI on CME and major CEXs has increased by over 1% and 0.5% respectively in the past 4 hours, indicating a cautious buying behavior among derivatives traders.

Conclusion

Ripple co-founder Chris Larsen's significant profits from XRP have been realized, which is both a manifestation of the wealth effect of cryptocurrency and a continuous warning of selling pressure in the market. Although he clarified that the transfer of 50 million XRP was for investment in the ecosystem, concerns about whales selling at the peak still exist, causing significant pressure on the short-term price movement of XRP. Investors should closely monitor the 200-day moving average at $2.59, as losing this level will greatly increase the risk of XRP falling to $2. In the tug-of-war between long-term bullish targets and short-term profit-taking pressure, it is crucial to trade cautiously and pay attention to key support levels.

Disclaimer: This article is for informational purposes only and does not constitute any investment advice. The cryptocurrency market is highly volatile, and investors should make decisions with caution.