XRP News Today: Chris Larsen's XRP Holdings Drop 43.5% as 60 Million Tokens Moved to Exchanges

Onchain activity linked to Ripple co-founder Chris Larsen revealed a surge in XRP transfers during July, with over 60 million tokens moved from a wallet widely attributed to him. The transactions, initiated on July 15, were tracked by onchain analyst ZachXBT, who noted that $140 million in XRP had reached exchanges and services by July 17 [1]. Wallet 5, one of eight associated with Larsen, was identified as the primary source of these movements, having reduced its holdings from 500 million to 282.49 million XRP—a 43.5% decrease. Collectively, Larsen’s eight wallets hold 2.58 billion XRP, valued at approximately $8.21 billion, though wallets 6 through 8 have remained largely inactive for extended periods [1].

The transfers followed a test transaction of 1.6 XRP to Coinbase on July 15, quickly followed by four separate 2 million XRP movements to the exchange. Additional addresses, including “rHtLaipqqfbhg,” received XRP and may be tied to exchanges, OTC desks, or institutional entities [1]. June also saw activity from Wallet 5, including a 1.5 million XRP transfer to Coinbase on June 16 and a larger 25.5 million XRP influx to the exchange on June 30, according to Blockster [2]. These movements, combined with historical data, suggest a pattern of gradual asset reallocation or liquidity testing.

Larsen’s wallets remain under scrutiny amid prior incidents. A 2024 hack drained 213 million XRP from his accounts, attributed to a 2022 LastPass security breach. While Jed McCaleb, another Ripple co-founder, is believed to have liquidated most of his early XRP holdings, Larsen’s strategic approach to asset management remains unclear. Analysts note that large wallet activity does not automatically correlate with market price shifts. CoinGecko highlighted that XRP’s July price action remains context-dependent, while Binance emphasized that Larsen’s transfers should not be conflated with direct bullish or bearish signals [3][4].

Speculation persists about the intent behind the transfers. Dark Defender, a crypto analyst cited on Facebook, proposed a technical analysis suggesting XRP could reach $3 in the final phase of an Elliott wave structure, though this forecast should not be treated as a definitive prediction [5]. Onchain sleuths continue to monitor whether the activity reflects routine portfolio adjustments, exchange-bound liquidations, or a broader strategy.

The broader XRP ecosystem faces ongoing regulatory and market challenges, including Ripple’s legal battles. While July’s transfers have not yet triggered immediate price volatility, analysts caution that market sentiment remains influenced by macroeconomic factors and institutional developments. Whale activity, such as the June Coinbase influx, may signal accumulation or distribution phases but lacks direct causation with price trends.

[1] [Bitcoin.com News (@BTCTN) / X](https://x.com/btctn?lang=en)

[2] [Blockster – Lidia Yadlos](https://blockster.com/member/lidia-yadlos)

[3] [CoinGecko – XRP Price in Bitcoin](https://www.coingecko.com/en/coins/xrp/btc)

[4] [Binance – Square-Creator-37f929fcc's Profile](https://www.binance.com/en-NZ/square/profile/Square-Nadeem-49fa9bbab41f)

[5] [Facebook – Alexander Mercouris](https://www.facebook.com/groups/cryptogb/posts/24028011986819241/)