XRP News Today: Ripple Co-Founder Transfers $26M XRP Amid Price Surge

Ripple co-founder and executive chairman Chris Larsen transferred 26 million XRP, valued at approximately $26 million, to Coinbase this week. This transaction was detected by blockchain monitoring services and subsequently reported by Wu Blockchain. Larsen’s wallet has been active throughout 2025, with a total of nearly 106 million XRP moved to various centralized exchanges and auxiliary wallets since January. The cumulative value of these transfers is around $344 million, indicating a pattern of sustained selling or strategic asset repositioning.

This significant transfer occurred as XRP’s price approached its all-time high of $3.40. On Wednesday, the token briefly reached $3.30 during the Asian trading session. The price surge was driven by increased optimism in the futures markets, where open interest rose to $9.98 billion, the highest level since 2021. This strong demand from traders and long positions continues to support the upward trajectory of XRP.

Despite the outflow from Larsen’s wallet, other large holders have been accumulating XRP. Over the past two weeks, institutional and high-net-worth investors have accumulated more than 2.2 billion XRP, according to blockchain analytics. This accumulation trend reflects growing investor confidence in XRP’s short-term prospects, particularly as market speculation surrounds the approval of new financial products.

A key catalyst for this bullish momentum is the expected launch of the ProShares XRP Futures ETF, scheduled for July 18. The anticipation of this ETF has contributed to XRP’s recent price gains. The introduction of a futures-based exchange-traded fund could enhance market access and liquidity, attracting more institutional investors and further boosting XRP’s market position.