XRP News Today: Ripple Co-Founder Transfers $26 Million XRP Amid 32% Price Surge

Ripple co-founder Chris Larsen has recently transferred $26 million worth of XRP to Coinbase, a move that has garnered significant attention in the cryptocurrency community. This transaction occurred as XRP approached its highest price in over seven months, reaching $3.25, which is a 32% increase from the previous week. The broader cryptocurrency market has also seen a rally, with Bitcoin hitting an all-time high of $122,838 on July 14.

Larsen's actions are part of a larger trend of transactions from his wallet, which has sent a total of 106 million XRP, valued at $344 million, to centralized exchanges and auxiliary wallets since the beginning of the year. This pattern suggests that Larsen may be gradually reducing his XRP holdings. Despite these sales, Larsen still holds a significant amount of XRP, with his main wallet containing more than 332 million tokens, valued at over $1 billion. This figure accounts for 4.39% of XRP’s circulating supply, which is enough to cause a market impact if liquidated too quickly.

XRP's recent surge in value can be attributed to several factors, including Ripple's recent business moves and increased investor interest. For instance, Ripple, along with USDC issuer Circle, applied for US National Trust Bank charters, which, if approved, would bring them under federal oversight and closer to the heart of the US financial system. Additionally, Webus International, a firm listed on the Nasdaq, announced plans to build a $300 million XRP treasury. These developments have contributed to the positive sentiment surrounding XRP and its potential for further growth.

Larsen's net worth, estimated to be $9.7 billion by Forbes, has significantly increased from $3.2 billion last year. This rise in wealth is largely due to Ripple's success and the corresponding increase in the value of XRP. Larsen, who co-founded Ripple in 2013, stepped down as CEO in December 2016 but remains the executive chairman of the firm. He has used his wealth to support various political causes, including donating $1 million worth of XRP to a super PAC that supported Vice President Kamala Harris’ presidential campaign in October 2024.

The recent transfer of XRP by Larsen has sparked considerable interest in the cryptocurrency community. While the exact reasons for his actions are unclear, the move suggests that he may be taking advantage of the current high prices to liquidate some of his holdings. This could potentially impact the market, as Larsen's wallet holds a significant amount of XRP, valued at $8.3 billion. However, it is important to note that Larsen's actions do not necessarily indicate a bearish outlook on XRP. He may be diversifying his portfolio or using the funds for other investments.

In conclusion, Chris Larsen's transfer of $26 million worth of XRP to Coinbase is a significant event in the cryptocurrency world. It comes at a time when XRP is nearing its all-time high and follows a series of similar transactions from Larsen's wallet. While the exact reasons for his actions are unclear, the move suggests that he may be selling his holdings. This could potentially impact the market, but it is important to note that Larsen's actions do not necessarily indicate a bearish outlook on XRP. The broader market rally and Ripple's strategic moves continue to support the positive sentiment surrounding XRP, making it one of the best-performing top-100 assets so far.