Ripple executive Chris Larsen has transferred approximately 106 million XRP (valued at $344 million) to centralized exchanges in recent transactions, including a notable $26 million deposit to Coinbase. This movement coincides with a sustained rally in XRP’s price, largely attributed to growing institutional accumulation.
Financial institutions have acquired nearly $10 billion worth of XRP, reinforcing its price resilience and market position. The transfers by Larsen—a Ripple co-founder—signal potential portfolio rebalancing during heightened market activity.
Market enthusiasm remains buoyed by the recent debut of the ProShares XRP Futures ETF, which offers regulated exposure to XRP futures contracts. Analysts suggest the ETF could enhance market liquidity and strengthen XRP’s role in the broader crypto ecosystem.