Activity in Chris Larsen’s Wallets Stirs Speculation in XRP
Wallets owned by the executive chairman of Ripple Labs and co-founder Chris Larsen have regained activity in XRP’s books. This news comes as the crypto market prepares for volatility with the impending U.S. midterm elections days away. The on-chain activity has attracted the interest of many analysts and traders.
In the past, transactions involving Mr. Larsen’s wallets have coincided with swings in the price of XRP. Despite the recent transactions being small, many believe Mr. Larsen may engage in activity to move larger amounts of XRP in the near future.
Currently, XRP’s price has rebounded from a recent wide correction across the crypto market and is trading around $1.35.
Evidence that Payments are Being Sent to Larsen’s XRP Wallets on XRPScan
Wallets associated with chrislarsen (5) and chrislarsen (7) received transactions, and chrislarsen (5) received two transactions of 0.000137 and 0.000001 XRP. Similarly, another transaction of 0.000137 was transferred to ChrisLarsen (7).
Despite the small size of the transactions, analysts believe the smaller wallets that Mr. Larsen frequently used are now “deleted”. This has led many in the crypto community to speculate.
In the last year, Larsen’s wallets have received close scrutiny on blockchain tracking platforms. According to the trading insight company CryptoQuant, Chris Larsen’s wallets have received 250 million XRP since July of last year.
Some of these funds have been reported to have been moved directly to the major exchanges such as Coinbase, which has, in the past, driven significant selling pressure from both whales and retail investors.
Political Donations Add Further Dimension to XRP Market Interest
The activity in the wallets is also attracting interest from the market because of the approaching midterm elections in the U.S. Chris Larsen’s increased political donations of several million dollars to support the Democrats and to support the initiatives that are friendly to crypto are examples of the increasing political involvement in the midterm elections.
It has been reported that Larsen has so far donated approximately $3.5 million to support the New York Democrat candidate, Alex Bores, and is likely to financially back Gavin Newsom, the Governor of California, in the 2028 presidential election.
Like Larsen, other larger crypto companies such as Ripple and Coinbase are also becoming politically active and financially backing various political action committees (PACs) and other related policy activities in anticipation of the 2026 elections. A lot of political activity from crypto companies is believed to be able to sway the regulations and laws governing digital assets in the United States.
Chris Larsen’s XRP Holdings Remain ENORMOUS
The information from CryptoQuant also shows that Chris Larsen controls billions of the circulating tokens of XRP. Lastly, XRP appreciates in price over the long term, and Chris Larsen’s profits are sitting at just under $764.2 million and have not been cashed out yet.
The large size of the holdings of Larsen sends the crypto market into turmoil with any movement of his assets. The assets in his wallets are monitored closely by traders as they provide signs of potential deposits to exchanges and a large sell order by an institution.
XRP Price Holds Around $1.35 With Weakness in the Market
XRP had a price that rebounded to $1.35 from a bottom local price of $1.30 in the more extensive downturn that has plagued the crypto market.
XRP fluctuated between $1.33 and $1.36 in price during the past day, with a nearly 5% drop in the token’s trading volume showing a growing lack of interest from traders in this time frame.
XRP’s price is lower than the 50, 100, and 200-day simple moving averages in daily trading, a sign of bearish pressure. However, XRP is trending positively, relatively speaking. The RSI (Relative Strength Index) is 43.28, suggesting good momentum with room to grow further in the coming days.
With the 24/7 trading of XRP futures launching for the CME Group on May 29th, analysts suggest XRP could target $1.58. This is a sign that more institutional investors will enter the XRP market, which could deepen the liquidity in the XRP futures market.
XRP Derivatives Markets
XRP’s sentiment in Derivatives Trading is somewhat optimistic, as the total XRP futures open interest increased 0.20% to $2.86 billion in the past 24 hours, according to CoinGlass.
On the other hand, the open interest in CME and Binance declined 0.28% and 0.66%, respectively. Although there are expectations for the upcoming CME XRP futures trading, the mixed positioning of traders suggests there is more caution in the market than optimism.
For the time being, investors are focusing on Chris Larsen’s wallet activities and XRP’s price action in order to make a more accurate prediction for the next major price move.
Conclusion
XRP has gained renewed interest from the market as wallet transactions associated with Chris Larsen have investors prying at the possibility of potential whale movements. Even though the recent transactions were conducted on a small scale, Chris Larsen associated wallets tend to correlate with XRP volatility.
Currently, the price for XRP is around $1.35 and continues to trend at that price due to feeble trading volume and market uncertainty. The spike in open interest and the first-ever, 24/7 CME Group XRP futures trading is anticipated to increase institutional participation and XRP liquidity. Technical indicators are near the point of reversal, leaving many to believe that XRP will become bullish, and even push it past the given resistance point of $1.58.
