Chris Larsen Moves $26M XRP to Coinbase Amid Rally

Ripple co-founder Chris Larsen transferred $26 million worth of XRP to Coinbase in multiple batches this week, as XRP's price surged to between $3.35 and $3.65 per coin, nearing its all-time high. The cryptocurrency has jumped over 30% in the past week, with open interest in XRP futures exceeding $8.8 billion, indicating increased trader activity. The rally is driven by growing regulatory clarity, anticipation of new crypto legislation in Congress, and optimism about a potential spot XRP ETF in the U.S. The timing of Larsen's transfers has fueled speculation about his intentions amid these legal and market developments. Public figures, such as Dave Portnoy, have expressed regret over selling XRP prior to the surge, highlighting the market's unpredictability. Larsen's net worth remains estimated at around $10 billion, with significant XRP holdings.