As the price of XRP surged and hit a historical high, a large-scale capital transfer occurred in the cryptocurrency wallet of Ripple co-founder and Executive Chairman Chris Larsen.
Did Ripple co-founder sell XRP at a new high?
According to blockchain data, Chris Larsen this week transferred approximately $26 million in XRP to Coinbase, the largest cryptocurrency exchange in the U.S., sparking market interest in whether he is preparing to sell again. Since 2025, he has cumulatively transferred over $40 million in XRP to Coinbase.
Although there is no concrete evidence that all of it has been liquidated, such capital movements come at a time when market sentiment for XRP is high, inevitably raising concerns among investors. Reports indicate that Chris Larsen is currently estimated to still hold about 2.6 billion XRP, with his overall net worth soaring from $3.2 billion in 2023 to $9.7 billion, indicating a significant increase in the value of his XRP assets.
The U.S. Securities and Exchange Commission (SEC) previously pointed out in a lawsuit that Chris Larsen and his wife sold up to $450 million in XRP between 2017 and 2020. Ripple CEO Garlinghouse was also accused of personally selling $150 million. Although this four-year lawsuit concluded in June this year with both parties dropping appeals and paying a $50 million settlement, the historic large-scale sell-offs by executives still keep the market cautious about such transfers.
XRP reaches new highs again
Thanks to the passage of three bills during the U.S. House of Representatives' 'Crypto Week', market sentiment is hot. At the time of writing, XRP's historical high has been refreshed to $3.66, rising over 17% in the past 24 hours. According to CoinGlass data, the open interest for XRP perpetual contracts has also exceeded $10 billion, setting a new historical high.
Ripple expands traditional finance territory
In April this year, Ripple announced the acquisition of Hidden Road, which focuses on custodial and lending services, for $1.25 billion, expanding its trading and clearing business. At the same time, Ripple is actively advancing to obtain a national banking license in the U.S. and is partnering with BNY Mellon to custody its USD stablecoin RLUSD's reserve assets, which have now reached $500 million.
Source
