Ripple co-founder Chris Larsen has transferred approximately $26 million worth of XRP to cryptocurrency exchange Coinbase. The transaction occurred in multiple batches, each consisting of 2 million XRP tokens.
This significant transfer coincides with a notable surge in XRP’s market value. The cryptocurrency experienced a 34% price increase over the past week, bringing it close to its all-time high of $3.40 reached in 2018.
Market activity surrounding XRP has intensified significantly. Open interest in XRP futures contracts has surpassed $10 billion, reflecting heightened speculative interest and trading volume.
Larsen has a history of utilizing his XRP holdings for strategic purposes. Previously, he donated $20 million worth of XRP to support political campaigns, aligning with Ripple’s broader efforts to engage with regulatory frameworks.
Market analysts are increasingly optimistic about XRP’s potential. Current projections indicate an fueled by anticipation fueled by anticipation fueled by anticipation fueled by anticipation fueled by anticipation fueled by anticipation fueled by anticipation fueled by anticipation fueled by anticipation surrounding potential approvals for XRP exchange-traded funds (ETFs).