Ripple co-founder Chris Larsen moves nearly $30 million worth of XRP to Coinbase as token nears all-time high

Ripple co-founder Chris Larsen appears to have resumed — or be preparing to resume — XRP sales, according to onchain activity observed Tuesday. Larsen, who serves as executive chairman of Ripple Labs, sent approximately $26 million worth of XRP to Coinbase earlier this week in a series of transactions, adding to the approximately $40 million he’s sent to the exchange since the start of the year. 

The moves come amid a rising crypto market, driven by regulatory advancements in Congress during “Crypto Week” as well as a rising Bitcoin price. XRP is trading at $3.23, up nearly 8% on the day, and under $0.20 from an all-time high of $3.40 set in 2018, according to The Block’s price page.

Larsen’s public wallet shows he sent 10 million XRP to Coinbase on Jan. 6 and 1.5 million tokens on June 16. He has also made a series of transfers to external wallets that have acted as intermediaries for exchanges, including Binance, according to XRP Scan. It's unclear if any of these tokens have been sold, however. 

DL News, the first to report Larsen’s transfers on Tuesday, estimates the executive has sent $344 million worth of XRP to exchanges and wallets in 2025. 

Larsen co-founded Ripple in 2013 and served as CEO until 2016. He holds an estimated 2.6 billion XRP worth over $8.5 billion at current prices. Forbes last estimated Larsen’s net worth at $9.7 billion, up from $3.2 billion last year.

Ripple has been on an explosive trajectory since winning portions of its protracted legal fight with the U.S. Securities and Exchange Commission. In June, both parties agreed to drop their appeals, finalizing a $50 million settlement and closing the case initially filed in 2019. 

Notably, in April 2025, Ripple acquired prime brokerage firm Hidden Road for $1.25 billion, enabling it to expand its offerings into trading, custody, and lending services. 

It is also pursuing a national bank charter and has partnered with BNY Mellon to custody its RLUSD stablecoin reserves, which have reached $500 million as of July 2025. 

Larsen, alongside other Ripple execs, has gained a reputation for selling XRP. In its lawsuit, for instance, the SEC accused CEO Brad Garlinghouse of personally selling approximately $150 million between 2017 and 2020 and Larsen and his wife of selling $450 million during the same period.