Ripple Labs’ co-founder and executive chairman, Chris Larsen, seems to be set to restart, or is on the verge of resuming XRP sales, as indicated by onchain activities tracked on Tuesday. As the cryptocurrency inches closer to its all-time high, Larsen has transferred nearly $30 million worth of XRP to Coinbase.
Larsen initiated a sequence of transactions this week, moving approximately $26 million of XRP to Coinbase. This is in addition to the nearly $40 million he has transferred to the exchange since the beginning of the year. These transactions coincide with a surging crypto market, spurred by legislative progress in the Congress during the “Crypto Week” and a bullish Bitcoin market. At present, XRP is trading at $3.23, just $0.20 short of its all-time high of $3.40 set in 2018.
Records from Larsen’s public wallet reveal that he transferred 10 million XRP to Coinbase on January 6 and another 1.5 million tokens on June 16. He has also initiated several transfers to external wallets, which have served as middlemen for exchanges, including Binance. However, it remains unclear whether these tokens have been sold.
DL News, the first to report these transactions on Tuesday, estimates that Larsen has moved $344 million worth of XRP to exchanges and wallets in 2025. Larsen, who co-founded Ripple in 2013 and served as its CEO until 2016, holds an estimated 2.6 billion XRP, valued at over $8.5 billion at current market prices. Forbes last estimated Larsen’s net worth at $9.7 billion, a significant rise from $3.2 billion the previous year.
Ripple has seen a surge in growth since winning parts of its prolonged legal battle with the U.S. Securities and Exchange Commission. In June, both sides agreed to settle for $50 million, bringing an end to the case first initiated in 2019. Most notably, Ripple acquired prime brokerage firm Hidden Road in April 2025 for $1.25 billion, facilitating its expansion into trading, custody, and lending services. The company is also pursuing a national bank charter and has partnered with BNY Mellon to custody its RLUSD stablecoin reserves, which have reached $500 million by July 2025.
Many Ripple executives, including Larsen, have a history of selling XRP. In its lawsuit, the SEC accused CEO Brad Garlinghouse of personally selling roughly $150 million worth of XRP between 2017 and 2020. Larsen and his wife were accused of selling $450 million during the same period.
