The Ripple crypto token or better known as XRP has recorded a recent transaction of 50 million outgoing transfers since it was created in 2012.
The wallet was created early in the development of XRPL and was funded with 500 million XRP in February 2013 which was part of the XRP allocation to Ripple's Chairman.
Since then, this wallet has not transferred any tokens except 1 XRP in December 2017.
On-chain data confirmed the mega transaction took place on Monday, September 16 involving 50 million XRP worth $29.12 million at the time.
Previously, a case of fund movement involving the XRP token occurred in February on a large scale as a result of a hack that stole 212 million Ripple from Chris Larsen's wallet.
However, the transfer was recently confirmed by Chris Larsen himself and the transaction also got direct activation to the address.
After activation, Larsen's wallet transferred 50 million XRP to the address. At the time of this report, the recipient's address was holding XRP tokens and thereby reducing concerns about exploitation.
The Crypto Basic reports that Chris Larsen is one of 88 executives who have expressed support for presidential candidate Kamala Harris in the upcoming election and there is speculation that the release of funds is related to campaign activity.