Ripple co-founder and Executive Chairman Chris Larsen transferred $26 million worth of XRP to Coinbase this week, according to blockchain data verified by multiple sources. The transactions occurred Tuesday in four batches of 2 million XRP each (worth $6.5 million at the time), with additional transfers totaling over $40 million sent to unknown addresses on Thursday. These movements come as XRP trades at $3.35 – just 2% below its 2018 all-time high of $3.40 – following a 34% weekly price surge.
Larsen has transferred nearly $40 million worth of XRP to exchanges in 2025 alone, including 10 million XRP ($24.2M) in January and 1.5 million XRP in June. Throughout the year, his total transfers to exchanges and external wallets amount to $344 million. The Ripple co-founder holds approximately 2.6 billion XRP (worth $8.5 billion), contributing to his $9.7 billion net worth.
This activity coincides with unprecedented market interest in XRP, where perpetual futures open interest hit a record $8.8 billion this week, with total open interest exceeding $10 billion. Traders are overwhelmingly bullish, with prediction platform Myriad indicating an 85% probability of XRP breaking its record to reach $3.50. The surge follows Ripple's June settlement of its SEC lawsuit, ending a four-year legal battle with a $50 million agreement.