Ripple co-founder keeps ‘cashing out’ at the highs: Will it hurt XRP price?

💡 DMK Insight

Chris Larsen’s profit-taking could signal a pivotal moment for XRP’s price action. With XRP currently at $2.39, the market’s reaction to Larsen’s realized profits is crucial. If traders perceive this as a sign of weakening confidence from insiders, we might see increased selling pressure. Historically, significant profit-taking by key figures often leads to short-term price corrections, especially in a volatile asset like XRP. Traders should keep an eye on the $2.25 support level; a break below this could trigger further declines. On the flip side, if XRP can hold above this level, it may attract buyers looking for a dip, especially with ongoing institutional interest in the crypto space. Watch for volume spikes around these price points, as they could indicate whether the market is absorbing or rejecting this profit-taking. In the broader context, this situation highlights the importance of monitoring insider actions and sentiment, as they can often precede larger market movements. Keep an eye on any news from Ripple or regulatory developments that could influence XRP’s trajectory in the coming days.