Ripple co-founder sells 50 million XRP

Ripple co-founder Chris Larsen has sold 50 million XRP, worth approximately $120 million, according to CryptoQuant contributor Maartunn. The sale follows news that Evernorth, a crypto venture that receives strategic support from Ripple, is pursuing a listing via a special purpose acquisition company (SPAC). Evernorth plans to raise over $1 billion to begin a strategic accumulation of XRP. In an earlier post on X, Larsen announced his 50 million XRP investment in Evernorth.