Ripple’s Co-Founder Sells XRP at This Exact Time — Analyst Spots a Pattern

Core Insights - Ripple co-founder Chris Larsen has reportedly made over $764 million in profits from XRP sales since 2018, raising investor concerns [1][4] - Larsen's recent sale of 50 million XRP, valued at approximately $120 million, is noted as his largest sale to date and is linked to the Evernorth initiative [2][3] - Despite the connection to Evernorth, Larsen's pattern of selling XRP near local highs continues to be a concern for investors [4] Company Developments - Evernorth plans to go public and raise $1 billion to establish an XRP-focused digital asset treasury, with Larsen being listed as one of its investors [2][3] - Larsen confirmed that the 50 million XRP sold were directed towards the Evernorth initiative, emphasizing its role in enhancing XRP's capital markets and DeFi product usage [3] Market Context - XRP has faced significant market challenges, particularly in October, which is historically one of its weakest months [6] - Analysts had anticipated that potential ETF approvals could mitigate the usual bearish trends, but the ongoing US government shutdown has negatively impacted these expectations [6]