XRP wallets linked to Chris Larsen move $3.5B before Texas vote
On-chain data show renewed XRP wallet activity linked to Ripple co-founder and executive chairman Chris Larsen ahead of the Texas Democratic primaries. XRPScan recorded small transfers from addresses labeled “chrislarsen,” plus larger movements across associated side wallets, with some wallets marked “deleted.” The transfers have sparked speculation about portfolio rebalancing or potential exchange deposits, but the purpose is not confirmed.
Larsen is reported to control about 2.58 billion XRP across eight wallets, worth roughly $3.5 billion at current prices. The article cites prior major movements: in Jan 2025, about $109M worth of XRP moved from dormant addresses to exchanges; in Jul 2025, around $50M XRP (about $175M) moved across four addresses, with $140M reportedly reaching centralized exchanges. Since then, more than 250M XRP have been transferred from addresses connected to Larsen.
Political context is also noted: Larsen donated $3.5M to support Alex Bores and pledged support for Gavin Newsom’s 2028 campaign. It also highlights the pending U.S. “Clarity Act,” which could affect XRP’s regulatory status.
Market snapshot: XRP trades near $1.35 (24h range ~$1.30–$1.36). The daily chart sits below the 50/100/200-day SMAs, RSI is 43.28, and volume is down ~5%. Open interest is about $2.86B. CryptoQuant estimates unrealized gains on Larsen’s XRP holdings at ~$764.2M.
Traders will likely watch whether these XRP wallet flows translate into exchange inflows, which can pressure liquidity and short-term price action.
Neutral
The core of the news is token-holder activity: on-chain monitoring shows XRP wallet movements tied to Chris Larsen, totaling roughly $3.5B in holdings, ahead of a political milestone (Texas Democratic primaries). However, the article itself stresses an uncertainty: blockchain data do not confirm whether these transfers are destined for exchanges (sell pressure) or for routine portfolio management (limited downside).
Historically, similar whale/exchange-linked moves around dormant-address awakenings (e.g., the cited Jan 2025 and Jul 2025 events) have been associated with volatility and, depending on the flow direction, potential selling pressure. That makes the headline inherently watch-listable for traders, especially if exchange inflows follow.
At the same time, current technical signals in the report are mixed-to-weak: XRP is below major moving averages and RSI is under 50, which already leans toward bearish momentum. Yet volume is only slightly down and open interest is relatively stable, suggesting the market may not be fully repricing instantly.
Given the lack of confirmation of exchange deposits, the most likely market impact is near-term volatility around rumor/confirmation cycles, while the longer-term effect depends on whether regulation headlines like the “Clarity Act” ultimately shift expectations for XRP. Overall, without verified sell-side execution, this reads as a neutral setup with a risk of sudden bearish pressure if exchange inflows are confirmed.