Chris Larsen Sparks Speculation, Transfers $140M XRP to Exchange in a Week
Ripple co-founder Chris Larsen has moved 50 million XRP, valued at around $175 million, to exchanges since July 17, a move that sparked market reaction.
On Thursday, July 24, blockchain investigator ZachXBT disclosed on X that wallets linked to Larsen have transferred 50 million XRP, worth approximately $175 million, since July 17.
The tokens went to four addresses. Chris Larsen sent approximately $140 million in XRP to centralized exchanges, including Coinbase, and other related platforms. The move sparked questions about why Larson, a prominent figure in the Ripple network, would move such a large quantity of tokens to platforms.
The most recent transfers occurred just as XRP skyrocketed to a temporary high surpassing $3.60 last Friday before plummeting below $3.10. The price decline, now partly blamed on the selloff, has sparked allegations that Larsen is cashing in and ‘dumping’ on retail investors at Ripple’s token peak in July.
Two of the largest recipients received a combined 30 million XRP, while another address received 10 million. Additionally, two brand-new addresses each received 5 million XRP.
Chris Larsen has transferred over $344 million in XRP in 2025
Thus far, blockchain analytics services referenced by various market activity monitors, such as ZachXBT, have identified several previously inactive wallets associated with Larsen that reactivated in early January.
On January 6, one of these wallets transferred 10 million XRP, valued at approximately $24 million at the time, to Coinbase. Further transactions of 20 million XRP occurred on January 16, followed by additional transactions on January 22 and January 29, totaling 50 million XRP moved within that month.
Larsen-Linked Wallets Still Hold $9 Billion in XRP.
When questioned about the number of tokens the former CEO continues to hold, ZachXBT noted that the wallets still possess over 2.81 billion XRP. At the current market price of $3.11 per token, that reserve is worth approximately $8.7 billion, which is 4.6% of the $183 billion market cap of XRP.
This isn’t the first instance where Ripple’s executives have faced criticism for significant XRP transactions. In 2020, the SEC charged CEO Brad Garlinghouse with personally liquidating $150 million worth of XRP from 2017 to 2020. The SEC accused Larsen and his partner of unloading $450 million during the same timeframe.
