XRP community figures have pushed back against recent claims by CryptoQuant’s analyst Maartunn, who suggested Ripple Chairman Chris Larsen was dumping his tokens on retail investors.
Maartunn took to X yesterday to alert the XRP community that the Ripple Chairman had transferred 50 million XRP from his wallet. At the time of the post, the transaction was valued at approximately $120 million.
Notably, he suggested that while XRP investors continue to hold their tokens, Larsen is cashing out, offloading his tokens to retail clients.
Maartunn is known for consistently tracking on-chain movements linked to Larsen. He had previously alerted XRP community members about XRP-related transfers from Larsen’s wallets.
In July, after the Ripple co-founder transferred 200 million XRP across four transactions, Maartunn suggested that Larsen was using retail investors as an exit liquidity. He urged investors to have a second thought before buying XRP or risk becoming Larsen’s 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
XRP Community Figures Debunk Claim
However, his latest insinuation that Larsen was “cashing out” while retail investors were “holding the bag” was swiftly dismissed by prominent XRP enthusiasts.
Community figure Vet indicated that critics are quick to react to headlines about Larsen’s 50 million XRP transfer without understanding the real motive behind the move.
Meanwhile, pro-XRP legal expert Bill Morgan clarified that Larsen’s transaction was “cashed straight” into Evernorth, the largest XRP treasury company. Morgan added that he intends to continue holding his XRP, reinforcing his confidence in the token.
Real Motive Behind Larsen’s 50M XRP Transfer
The development follows the public launch of Evernorth, the world’s largest XRP treasury company. Evernorth, which debuted yesterday following a business agreement with Armada Acquisition Corp II, disclosed plans to raise $1 billion in gross proceeds, from notable investors like Ripple and SBI Holdings.
As reported earlier, most of the funds will be used to purchase XRP from the open markets, and the treasury company will hold the tokens. Notably, Larsen announced an investment of 50 million XRP in support of the project.
Interestingly, he noted that on-chain watchers would notice a large XRP transfer from his wallet, clarifying ahead of time that the transfer was related to his investment in Evernorth, not a sell-off.
Congrats @ashgoblue and the @evernorthxrp team on today’s launch! Evernorth fills the missing link today in XRP capital markets, and XRP usage in DeFi products. I’m proud to invest 50M XRP in the firm (you may see some wallet movement on this). https://t.co/AAbkO6WlZe
— Chris Larsen (@chrislarsensf) October 20, 2025
A few hours later, Maartunn still suggested that Larsen was cashing out while XRP holders continued holding the bag. However, prior statements from Larsen and subsequent announcements from Evernorth suggest otherwise.