Ripple co-founder Chris Larsen transferred over 8 million XRP to Coinbase

Chris Larsen, co-founder and executive chairman of Ripple Labs, reportedly transferred $26 million worth of XRP to Coinbase this week, according to on-chain data from XRPScan. The records revealed several outgoing transactions from Larsen’s wallet to Coinbase, totaling over 8 million XRP on July 15. 

Larsen’s wallet activity comes against the backdrop of an XRP surge, which has gone up by roughly 50% this month, reaching $3.25, just 4.4% shy of its all-time high of $3.40 set in January 2018, according to Coingecko.

Jed Larsen moves 9.6M XRP to Coinbase and external wallets

Per the blockchain explorer, the first transfer to Coinbase occurred at 14:44 UTC, with 1.6 million XRP sent from Larsen’s wallet. This was immediately followed by a second transaction at 14:46 UTC, involving an additional 2 million XRP. Both transactions were sent to the same Coinbase destination tag: 371918471.

Minutes later, at 14:49 UTC, two more identical payments were made. One transaction sent 2 million XRP to Coinbase, then another 2 million XRP, again using the same destination tag. In total, Larsen transferred 7.6 million XRP to Coinbase within a five-minute window on July 15.

That same day, at 14:50 UTC, another outgoing payment of 1 million XRP was made to a wallet identified as rNLrQvgfLZNL…, which could be a fund movement to a secondary or auxiliary wallet, not an exchange. Another 1 million XRP payment followed at 14:51 UTC, directed to the wallet rhmkfhYZY3XJ…, most likely a non-exchange address. 

The most recent transaction occurred on July 17, 2025, at 04:17 UTC, but this was an inbound payment of 0.000038 XRP to Larsen’s wallet from address rBuTRUFGt9M…, a negligible amount that could have been testing out system transactions.

The four outgoing transactions to Coinbase account for the bulk of the movement, totaling 7.6 million XRP, while an additional 2 million XRP was dispersed to external wallets. So far, none of the tokens have been sold, but market watchers believe the Ripple co-founder could be cashing in on his gains in the green market run.

Chris Larsen, a person of interest in the XRP community

Larsen co-founded Ripple in 2013 to enable blockchain-based cross-border payments, and then stepped down as CEO in 2016 for Brad Garlinghouse. He is still the company’s executive chairman. 

The 65-year-old’s crypto wallet, as tracked by XRPscan, now holds approximately 332,499,979.29 XRP, valued at about $1.08 billion.

On January 30, ZachXBT posted his findings on X, showing that wallets linked to Larsen had transferred over $109 million worth of XRP to Coinbase, Bitstamp, and Bybit in January alone. In total, wallets attributed to Larsen have moved 106 million XRP since the beginning of the year, now worth an estimated $344 million.

Well I guess it’s a good thing no stalks XRP transfers from wallets tied to the founders/foundation.

$109M+ sent to exchanges (Coinbase, Bitstamp, Bybit) just this month from rhREXV which was activated by Chris Larsen.

rhREXVHV938ToGkdJQ9NCYEY4x8kSEtjna

— ZachXBT (@zachxbt) January 30, 2025

In the same month, Larsen became a point of discussion when he confirmed that his personal XRP accounts had been compromised in a security breach. His statement came shortly after ZachXBT alleged that 213 million XRP, then worth roughly $112.5 million, had been stolen from wallets linked to Larsen in 2024. 

According to ZachXBT, Larsen had stored his private wallet keys using LastPass, leading to the loss of around $150 million in XRP. Forbes estimates his current net worth at $10 billion, up from $3.2 billion in 2024. Meanwhile, XRP has entered a steep upward trajectory after breaking out of a prolonged consolidation phase. 

“The surge has positioned the price inside the upper half of the channel, with strong momentum driving toward the 3.40–3.55 target zone,” she wrote on X. The current price is the asset’s strongest performance since the 2018 bull run.

KEY Difference Wire: the secret tool crypto projects use to get guaranteed media coverage