Larsen’s XRP Transfers to Coinbase Propel Price to New High
Ripple co-founder Chris Larsen moved about 5.5 million XRP (≈$7.7 million) to Coinbase on April 26. This comes amid over 106 million XRP transfers to exchanges since early 2024 for liquidity management. The transfers helped XRP climb first to a seven-month high and then surge over 8% to an intraday record of $3.89, lifting its market cap above $180 billion. On-chain volume jumped 35%, and Coinbase’s order books showed strong buy support between $3.50 and $3.80. Analysts attribute the rally to growing institutional interest, potential new listings, and legal clarity for Ripple. While large sell-offs could trigger short-term volatility, long-term prospects remain bullish, supported by expanding cross-border payment use cases and market demand.
Bullish
The transfer of over 5.5 million XRP by Chris Larsen coincided with significant price rallies, on-chain volume spikes, and record-breaking highs, indicating strong bullish momentum. Large whale moves often precede price swings, but the surge in buy support on Coinbase and growing institutional interest suggest demand can absorb potential sell-offs. Legal clarity from Ripple’s SEC case and expanding cross-border payment use cases further bolster long-term confidence in XRP. While traders should monitor liquidity shifts and manage risk, current indicators point to continued upside rather than a downturn.