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The crypto community is abuzz with speculation following a large transaction from Ripple cofounder and executive chairman Chris Larsen’s crypto wallet. As reported by Wu Blockchain, Larsen recently transferred around $26 million in XRP to Coinbase, raising concerns about potential selling pressure and market intent.
The transaction reportedly occurred earlier this week, when Larsen's wallet transferred 26 million XRP to the major U.S. exchange. While it remains unconfirmed whether the tokens have been sold, such high-profile transactions often stir market reactions, especially when they involve executive-level wallets.
This is not the first time Larsen’s wallet has seen activity in 2025. Since the start of the year, it has transferred a total of nearly 106 million XRP, currently worth $344 million, to centralized exchanges and auxiliary wallets.
XRP price nears all-time high
The news comes on the heels of XRP's recent climb, which has brought it close to its historic high of $3.40. This recent price movement has attracted both retail and institutional interest, making any large transactions particularly impactful on sentiment.
XRP extended its breakout on Wednesday, momentarily reaching $3.30 during Asian hours as bullish sentiment soared through futures markets. The coin is now trading less than 4% below its all-time high of $3.40 reached in 2018.
Futures open interest increased to $9.98 billion, the highest since 2021, as traders aggressively took long bets. On-chain data shared by Ali, a crypto analyst, shows that over 2.2 billion XRP have been accumulated by large holders in the past two weeks.
Expectations are in place for ProShares XRP Futures ETF, which is expected to launch on July 18.
Vladislav Sopov
U.Today Editorial Team