Prime Highlights
- More than 8 million XRP (~$26 million) were transferred to Coinbase by Chris Larsen as XRP approaches all-time highs.
- The transfer comes on the back of a strong July price spike and increased futures market trading.
Key Facts
- The transfer was made in 7.6 million XRP in batches of four and 2 million XRP to other wallets.
- Larsen-associated wallets have transferred 106 million XRP ($344 million) to exchanges since Jan 2025.
Key Background
Ripple co-founder and executive chairman Chris Larsen transferred around 7.6 million XRP, or about $26 million, to Coinbase in four transactions over a few minutes. Another 2 million XRP was transferred into private wallets. The transfers took place while the value of XRP spiked to around $3.25–$3.30, close to its 2018 all-time high at $3.40. The transfer has been described as strategic maneuvering during an era of bull mania market.
Larsen’s move is part of a trend seen across 2025. His wallets have offloaded more than 106 million XRP, worth around $344 million, to custodian accounts and exchanges since January. All the XRP moved is not necessarily proven to be sold, but transfer of tokens to exchanges such as Coinbase tends to indicate probable liquidation or portfolio rebalancing by large holders.
This context of today’s market frames these movements. XRP has seen a spectacular rebound, increasing almost 34–50% in July alone, and futures open interest reaching record highs of around $9–10 billion. This upsurge illustrates heightened institutional and retail demand driven by speculation and expectations that XRP can break its previous price highs.
Apart from, Larsen’s earlier security blunder during the early part of 2024, when over $112 million in XRP was hacked after its wallet had been compromised, has led to heightened scrutiny of his on-chain behavior. His large-volume transactions are being watched very carefully by traders and analysts nowadays, as they have the ability to influence market sentiment and price volatility. With XRP near an important resistance level, Larsen’s movement of $26 million is bound to be a deliberate one to prepare for the rally with room for further positioning in the markets.
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