Chris Larsen Moves $30M XRP to Coinbase as Prices Surge

Chris Larsen, the co-founder of Ripple, seems to be resuming sales of XRP based on recent on-chain activities. Earlier this week, he transferred about $26 million in XRP to Coinbase, bringing his total transfers to the exchange to around $40 million since the beginning of the year. This spike in activity aligns with a thriving crypto market, catalyzed by favorable regulatory moves in Congress and increasing Bitcoin prices. Currently, XRP is trading at $3.23, an increase of nearly 8% for the day, and just under $0.20 away from its all-time high of $3.40 set in 2018. Larsen's public wallet records show he sent 10 million XRP to Coinbase on January 6 and an additional 1.5 million tokens on June 16. He has also made various transfers to other wallets that serve as intermediaries for exchanges like Binance, though it remains uncertain if these tokens have been sold. DL News was the first to break the news of Larsen's transfers, estimating that he has sent $344 million worth of XRP to exchanges and wallets in 2025. Having co-founded Ripple in 2013, Larsen served as its CEO until 2016 and currently holds around 2.6 billion XRP, valued at over $8.5 billion at today’s prices. Forbes last estimated his net worth at $9.7 billion, a significant rise from $3.2 billion in the previous year. Ripple’s progress has accelerated following its partial victories in legal battles against the U.S. Securities and Exchange Commission. Both parties agreed to drop their appeals in June, settling for $50 million, and ending a case that began in 2019. In April 2025, Ripple expanded by acquiring prime brokerage Hidden Road for $1.25 billion, broadening its services into trading, custody, and lending. The company is also pursuing a national bank charter and has partnered with BNY Mellon for custody of its RLUSD stablecoin reserves, which reached $500 million by July 2025. Larsen and other Ripple executives have faced scrutiny for selling XRP, as the SEC's lawsuit disclosed that CEO Brad Garlinghouse sold approximately $150 million between 2017 and 2020, and Larsen and his wife sold $450 million during the same timeframe. Disclaimer: The Block is an independent media outlet providing news and data. As of November 2023, Foresight Ventures is a majority investor in The Block. The information here does not constitute financial advice.