Heavy Transfer to Coinbase as XRP Price Approaches ATH Level from Ripple Founder! - Coin Bulletin

26 million dollars worth of XRP was sent from Chris Larsen’s wallet to Coinbase this week; this was the final link in a total movement of 106 million XRP since the beginning of the year.

The crypto wallet belonging to Chris Larsen, one of the co-founders of Ripple, executed a transfer of approximately 26 million dollars worth of XRP to the Coinbase exchange this week. According to Wu Blockchain, it is still unclear whether the transferred funds have been sold. However, this move draws attention as part of the large-scale XRP transfers that have been ongoing since the beginning of the year.

Since the beginning of 2024, Larsen’s wallet has transferred a total of approximately 106 million XRP. The majority of these transactions have been directed towards centralized exchanges. The timing of these transfers coincided especially with the recent rise in the price of XRP. The popular altcoin recently managed to reach its highest level in the last seven months, coming close to its historical peak of 3.40 dollars.

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The transfer drew attention as it approached the summit.

The latest transfer from Larsen’s wallet coincided with the price momentum of XRP, raising the question “Are we preparing for a sell-off as we approach the peak?” Especially the movements of names at the founder level can create speculative effects in the market. Although it is not yet clear, it is estimated that the assets directed towards a major exchange like Coinbase carry a liquidity purpose.

As the XRP price gains strength with developments in the SEC lawsuit and the overall market recovery, the large-scale movements made by the founding partners continue to be closely monitored by investors.