- Ripple co-founder Chris Larsen transferred $175 million worth of XRP tokens, with $140 million going to cryptocurrency exchanges, sparking criticism about potential selling pressure.
- The massive transfers occurred just after XRP reached a new all-time high of $3.65, raising questions about the timing of Larsen’s movements.
- XRP Ledger daily active users have halved from 39,500 to 19,500 since early 2025, despite the token’s strong price performance.
- XRP has significantly outperformed Ethereum with 415% yearly gains versus ETH’s 14%, while several asset managers await potential ETF approvals in 2025.
As reported earlier this week, Ripple co-founder Chris Larsen has moved millions in XRP last week. First, he transferred US$6.5 million (AU$9.87 million) in XRP to Coinbase, then another US$40 million (AU$60.75 million) to unidentified wallets.
Turns out Larsen wasn’t done yet, as he made a much bigger move. Crypto Twitter sleuth ZachXBT pointed out that Larsen had sent a total US$175 million (AU$265.78 million) in XRP, with US$140 million (AU$212.62 million) landing on exchanges.
Larsen has been widely criticised for the move – usually, transfers like these indicate that tokens are being sold. The timing of this has raised eyebrows, as XRP had just reached a new all-time high last week.
XRP made it back to third-largest by market cap with a US$182 billion (AU$276.31 billion) cap and a current price tag of US$3.07 (AU$4.66), after the ATH at US$3.65 (AU$5.54) on 18 July.
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According to ZachXBT, Larsen-linked wallets still have more than 2.8 billion XRP left – at a current value of over US$8.5 billion (AU$12.9 billion).
Larsen did not comment on the move.
User Numbers Dwindle as XRP Outshines ETH
The news of Larsen’s moves comes as active user numbers on the XRP Ledger (XRPL) have dwindled. As reported by Crypto News Australia, citing Decrypt, active daily accounts halved from the start of 2025. Analytics firm Serotonin reports that accounts went from 39,500 to just 19,500 over six months.
Despite this, XRP stands as the asset outperforming rival Ethereum (ETH) in recent times. XRP is up 415% over the past year and 42% over the past month. Meanwhile, ETH is up just 14% over the past year and 49% over the past month. ETH is yet to reach a new ATH; its high from 2021 remains US$4,891 (AU$7,440).
This is despite strong demand in US spot Ethereum exchange-traded funds, which saw record inflows last week.
XRP doesn’t have the same range of products, although several asset managers have applied for ETFs with the US Securities and Exchange Commission (SEC). Following Gary Gensler’s departure from the watchdog, many expect the approval of several altcoin ETFs in 2025.
Altcoin investors will be watching these applications closely – time will tell whether, once approved, they attract the same interest as their Bitcoin and Ether counterparts.
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