XRP News Today: Ripple Co-Founder Transfers $26 Million XRP to Coinbase as Price Hits 7-Month High

Chris Larsen, the co-founder of Ripple, transferred $26 million worth of XRP to Coinbase on July 16, 2025. This transaction occurred as the price of XRP reached $3.25, marking its highest level in over seven months. The wallet used for the transfer was identified as one connected to Larsen through blockchain data from XRPscan.

Since the beginning of the year, Larsen has moved a total of 106 million XRP, valued at approximately $344 million, from this wallet to various centralized exchanges and other addresses. The frequency and volume of these transactions have increased in tandem with the rise in XRP’s price. While there is no direct confirmation of a sale, the transfer to Coinbase suggests a potential intention to cash out.

Larsen co-founded Ripple in 2013, the company behind the XRP Ledger for blockchain-based cross-border payments. He stepped down as CEO in 2016 and now serves as the company’s executive chairman. Wallets linked to Larsen currently hold 2.6 billion XRP, which, at the current price of $3.25, equals $8.3 billion. These wallets have been active throughout the year, including the recent $26 million XRP transfer to Coinbase.

Larsen’s net worth is estimated to be $10 billion as of mid-2025, up from $3.2 billion in 2024. This increase aligns with the growth in XRP’s price. In October 2024, Larsen donated $1 million in XRP to a super PAC supporting Kamala Harris’s presidential campaign. This donation was one of several political contributions made using cryptocurrency. Larsen has also contributed to other Democratic campaigns, using his XRP holdings as confirmed by public filings.

Larsen’s on-chain activity coincides with Ripple’s efforts to integrate more deeply with the traditional financial system. At the start of July 2025, Ripple and Circle applied for US National Trust Bank charters. If approved, this would place both companies under direct federal supervision, a rare move in the digital asset sector. Ripple’s decision aligns with its broader efforts to operate within the traditional financial system, focusing on compliance following legal developments with the SEC. The charter application could allow Ripple to expand XRP-based services under a federal license.