Ripple Co-founder Chris Larsen Adds XRP Holdings on Coinbase
Ripple co-founder and Executive Chairman Chris Larsen has transferred approximately $26 million worth of XRP (worth over $6.5mm in four 2M XRP batches) to Coinbase, according to blockchain data analytics.
This brings Larsen’s total XRP moved to Coinbase over two transfers to more than 56 million XRP, adding significantly to his holdings on the world’s largest cryptocurrency exchange.
XRP was recently trading near its all-time high ($3.40) from 2018, closing just 2% below it at $3.35. The cryptocurrency has surged 34%, the highest price since January 2024.
XRP perpetual futures open interest recently saw record levels, exceeding $8.8 billion and later approaching $10 billion, reflecting heightened market speculation that the cryptocurrency could break its seven-year high.
While Larsen previously moved 10 million XRP to Coinbase in January, he did not clarify then whether those tokens were sold. This time, the destination makes speculators consider potential selling ahead of an all-time high, although figures suggest more than half a billion dollars in holdings remain at Coinbase according to market data.
Crypto market observers predict an 85% probability of XRP reaching an even higher price target of $3.50, citing increased investor interest, regulatory momentum (including applications for a spot ETF from fund managers), and sustained technical buying pressure. A plunge to $2.00 is viewed less likely.
Direct confirmation from Ripple itself regarding these transfers could not be obtained immediately, adding another layer to market anticipation around a foundational figure in the cryptocurrency project.
