Larsen Transfers $26M XRP to Coinbase Before XRP ETF Launch
Ripple co-founder Chris Larsen has moved another $26 million in XRP to Coinbase on July 18, adding to his 106 million XRP outflows since January. The transfer coincides with XRP’s recent rally—up 32% in days and nearing an all-time high—driven by growing XRP ETF speculation and enhanced regulatory clarity from the U.S. GENIUS Act. On-chain data shows Larsen still holds 332 million XRP, while institutional wallets have amassed over 2.2 billion XRP, boosting futures open interest to nearly $10 billion. Ripple’s strategic developments—including a joint U.S. National Trust Bank charter with Circle, a planned $300 million XRP treasury by Webus International, and the dropped SEC appeal—reinforce expectations for an XRP ETF debut. Traders should watch on-chain flows, ETF filings and regulatory updates, as the ProShares XRP Futures ETF launch could act as a near-term catalyst for further price gains.
Bullish
This news is bullish for XRP. In the short term, Larsen’s $26M transfer ahead of the ProShares XRP Futures ETF launch signals strategic positioning by a major holder and boosts ETF anticipation, likely driving buying momentum. Institutional wallets accumulating over 2.2 billion XRP and futures open interest nearing $10 billion reflect strong demand and liquidity growth, further supporting price upside. Additionally, regulatory clarity from the GENIUS Act and Ripple’s business advances (Circle charter bid, Webus treasury, dropped SEC appeal) strengthen confidence in an eventual spot XRP ETF, underpinning longer-term institutional adoption. Overall, these factors point to sustained bullish pressure on XRP prices.