$344M And Counting: What Is Ripple Co-Founder Chris Larsen Planning With His XRP Transfers?

by Murtuza J Merchant Benzinga Staff Writer

Zinger Key Points

Ripple recently acquired Hidden Road for $1.25 billion, signaling deeper expansion into crypto trading and lending services.
Ripple’s RLUSD stablecoin reserves have hit $500 million, with BNY Mellon tapped for custody operations.
A new wave of value and momentum stocks could be setting up for major moves—and Tim Melvin will name them live this Wednesday. Secure access here.

Ripple co-founder and executive chairman Chris Larsen has transferred roughly $26 million worth of XRP XRP/USD to Coinbase 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.

Also Read: Is El Salvador Faking Its Bitcoin Growth? IMF Footnote Sparks New Doubts

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.

Read Next: