Recent actions by Ripple co-founder Chris Larsen have drawn attention from the cryptocurrency community. The transfer of a significant amount of XRP to Coinbase coincided with a price surge for the token.
Chris Larsen's Transfers and Their Impact on XRP
On July 17, Chris Larsen transferred $30 million worth of XRP to the Coinbase exchange. The following day, the XRP token surged to a new all-time high of $3.65, drawing significant attention from traders and the crypto community. Data from XRPScan shows that Larsen has sent $344 million worth of XRP to exchanges and external wallets since the start of 2025, but it remains unclear whether these assets have been sold, adding to speculation about his long-term intentions.
Cryptocurrency Market: XRP's Rise and Its Position
Larsen's recent transfers coincided with a nearly 6% rise in XRP's price over the past 24 hours. On July 18, the altcoin shattered its previous all-time high of $3.40, set in 2018, energizing supporters and sparking renewed optimism about the token's future. At the time of writing, XRP is trading at $3.49, consolidating slightly below its fresh record.
Regulatory Context and New Legislation in the U.S.
The rise of XRP also came amid an overall surge in the cryptocurrency market, with total capitalization surpassing the $4 trillion mark for the first time ever. This historic rally was catalyzed by the recent approval of three key U.S. bills: the CLARITY Act, which establishes a clear structure for the digital asset sector; the Anti-CBDC Act, opposing the issuance of a central bank digital currency by the Federal Reserve; and the GENIUS Act, laying out new regulations for stablecoins.
Recent events surrounding XRP demonstrate how the actions of major token holders can impact the market. The increase in XRP's capitalization and overall positive trends in crypto investments open new horizons for the token and its ecosystem.
