Ripple co-founder and executive chairman Chris Larsen has transferred roughly $26 million worth of XRP (CRYPTO: XRP) to Coinbase (NASDAQ:COIN) this week, according to recent on-chain activity.
This adds to an estimated $40 million in XRP that Larsen has already moved to exchanges since January 2025, The Block reported on Thursday.
The latest movements were first highlighted by DL News, which noted that Larsen has transferred a total of $344 million in XRP to exchanges and external wallets throughout this year.
While it's not confirmed whether the assets have been sold, transactions include direct transfers to Coinbase and intermediary wallets linked to exchanges like Binance, according to data from XRP Scan.
The timing of Larsen's transfers aligns with a bullish crypto market, where legislative progress during "Crypto Week" and a surge in Bitcoin's price have contributed to renewed investor optimism.
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XRP is currently trading at $3.27, approaching its all-time high of $3.40.
Larsen, who co-founded Ripple in 2013 and led the company as CEO until 2016, holds about 2.6 billion XRP, valued at over $8.5 billion at current prices.
Forbes last estimated his total net worth at $9.7 billion, nearly tripling from $3.2 billion in 2024.
Ripple's recent momentum is partly due to its finalized settlement with the U.S. Securities and Exchange Commission in June 2025.
Both parties agreed to drop appeals related to the yearslong case, ending with a $50 million resolution.
Beyond legal victories, Ripple has made aggressive moves to scale its business.
In April 2025, the company acquired Hidden Road, a prime brokerage firm, for $1.25 billion.
It is also working toward a national banking charter and has partnered with BNY Mellon to custody reserves for its RLUSD stablecoin, which now totals $500 million.
Chris Larsen, along with other Ripple executives, has a history of XRP sales.
During the SEC's lawsuit, the regulator accused Larsen and his wife of selling $450 million worth of XRP between 2017 and 2020, while CEO Brad Garlinghouse was cited for selling $150 million during the same period.
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