XRP News: Ripple Co-Founder Chris Larsen’s Wallets Become Active
Highlights
- Ripple co-founder Chris Larsen's wallet record inflows, as per on-chain data.
- Small amount of XRP transfers are recorded in two wallets after months.
- CryptoQuant data reveals Chris Larsen's $764.2 million in unrealized profit on XRP holdings.
- XRP price rebounds to $1.35 after a buy-the-buy sentiment.
In major XRP news today, Ripple co-founder and Executive Chairman Chris Larsen’s associated wallets witnessed renewed activity. This comes before the U.S. midterm elections, capturing attention from the broader crypto community. XRP price holds near $1.33 after a recent drop amid broader crypto market selloffs.
Is Ripple Co-Founder Chris Larsen Moving XRP Again?
Ripple co-founder Chris Larsen-linked wallet addresses have become active again, according to on-chain explorer XRPScan data. Notably, XRP transfers and shifts in Chris Larsen’s wallets have historically been tied to massive price fluctuations.
On-chain analysis revealed slight XRP movements in chrislarsen (5) and chrislarsen (7) wallets. The chrislarsen (5) saw a 0.000137 and 0.000001 coin inflows. Meanwhile, chrislarsen (7) recorded 0.000137 XRP moving in the wallet.
While the wallets recorded only small amounts of coins moving, related subwallets recorded slightly larger XRP transfers. These wallet accounts are now labeled as “deleted,” raising speculations.
According to CryptoQuant data, wallets linked to Chris Larsen moved out almost 250 million XRP since July last year. Some coins were moved to crypto exchanges such as Coinbase, triggering massive liquidations by whales and retail investors.
The latest transfers come as Ripple co-founder Chris Larsen plans to donate millions in the US midterm elections. Notably, he has already revealed $3.5 million in donations to support New York Democrat candidate Alex Bores.
Chris Larsen also plans to support Gavin Newsom in the 2028 presidential elections. Crypto firms such as Ripple and Coinbase have poured millions into PACs and initiatives ahead of the 2026 midterm elections.
CryptoQuant data revealed Chris Larsen holds billions of XRP, representing a notable portion of the supply. The unrealized profit has increased to $764.2 million.
XRP Price Slips
XRP price is trading 1% lower at $1.33, with a 24-hour low and high of $1.32 and $1.36, respectively. Furthermore, trading volume has increased by almost 27% over the last 24 hours amid broader crypto market selloffs.
In the daily timeframe, the price is still trading below the 50-SMA, 100-SMA and 200-SMA at the time of writing. Whereas the relative strength index (RSI) is moving sideways near 41. As per an XRP price prediction, the coin may jump to $1.58 as the CME launches 24/7 XRP futures trading on May 29.
CoinGlass data showed mixed sentiment in the derivatives market. At the time of writing, the total XRP futures open interest jumped more than 3% to $2.93 billion in the last 24 hours. This happened as CoinGape reported that institutions are rotating into XRP.
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