Chris Larsen, co-founder and executive chairman of Ripple Labs, has reportedly transferred $26 million worth of XRP to Coinbase, fuelling speculation that he is cashing out as the cryptocurrency nears its highest price in over seven months.
Since the start of 2025, Larsen’s wallets have moved approximately 106 million XRP, worth about $344 million, to centralized exchanges and auxiliary wallets, indicating a substantial liquidation of holdings during XRP’s current surge.
Ripple co-founder Chris Larsen’s crypto wallet transferred approximately $26 million worth of XRP to Coinbase this week. It remains unclear whether the funds have been sold. Since the beginning of the year, the wallet has transferred a total of around 106 million XRP. XRP…
— Wu Blockchain (@WuBlockchain) July 17, 2025
XRP’s recent price rally has been striking. It jumped 32% over the last week, reaching $3.25, just 3.8% shy of its all-time high of $3.40 set in January 2018. This increase comes amid an expansive crypto rally highlighted by Bitcoin’s new record high of $122,838 on July 14. Notably, XRP recently surpassed Tether’s USDT stablecoin to become the third-largest cryptocurrency by market capitalization, behind Bitcoin and Ethereum.
Chris Larsen, whose crypto wallets currently hold approximately 2.6 billion XRP, valued at $8.3 billion, has been a prominent figure in both blockchain technology and politics, having previously donated $1 million worth of XRP to political campaigns. He co-founded Ripple in 2013 to facilitate blockchain-based cross-border payments. Though Larsen stepped down as CEO in 2016, he stays involved as executive chairman.
Several factors are sustaining XRP’s bullish momentum. Ripple’s strategic moves include applying for a US National Trust Bank charter alongside USDC issuer Circle, potentially bringing Ripple under federal oversight, which could boost investor confidence and adoption. Additionally, a significant XRP treasury valued at $300 million is planned by Nasdaq-listed Webus International, reinforcing institutional interest. Analysts also highlight the positive impact of Ripple ending its appeal in its legal battle against the SEC, clearing the way for XRP exchange-traded funds (ETFs).
Market experts predict that XRP’s valuation will continue to climb in 2025 and beyond. Some anticipate XRP breaking past its previous highs and potentially trading between $5 and $7 within the next year due to easing regulatory concerns and increasing institutional adoption.
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