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CryptoQuant analyst Maartunn cautions investors to think twice before buying XRP, warning they risk serving as exit liquidity.
The prominent market watcher issued the warning yesterday, while highlighting the XRP outflows from Ripple chairman Chris Larsen’s wallet. According to Maartunn, the Ripple chairman has sold roughly $200 million worth of XRP over the past 10 days.
Larsen Transfers $200M Worth of XRP in 10 Days
The accompanying chart provided insights into Larsen’s wallet, detailing how much XRP has been transferred within 10 days. The data suggested that Larsen moved the funds in four separate transactions, with each worth $20 million, $40 million, $60 million, and $80 million. This brought the total outflows from Larsen’s wallets to roughly $200 million.
Notably, the last outflow was recorded on July 23, with Larsen’s wallet transferring another 12.5 million XRP, worth $42.12 million. Overall, Larsen’s XRP balance has decreased by 2.56% within 10 days from roughly 2.34 billion XRP to around 2.28 billion tokens.
“XRP Holders Are Exit Liquidity”
Following the transfers, Maartunn emphasized that anyone still buying XRP is probably being used as the exit liquidity for Larsen’s sell orders.
The market commentator warned that the Ripple co-founder is selling his XRP holdings to unsuspecting retail investors. Accordingly, he urged investors to reconsider buying XRP.
It is worth mentioning that Larsen has sold significant amounts of XRP this year. According to a July 17 report by The Crypto Basic, Larsen has offloaded approximately 106 million XRP, worth $344 million at the time, since January 1, 2025.
The report suggested that the Ripple chairman transferred most of these funds to liquid exchanges, such as Coinbase. At the moment, he has an estimated net worth of $9 billion with about 2.8 billion XRP tokens.