In major XRP news today, Ripple co-founder and Executive Chairman Chris Larsen’s associated wallets witnessed renewed activity. This comes before the U.S. midterm elections, which could grab attention from the broader crypto community. XRP price holds near $1.35 after a slight upside momentum.
Is Ripple Co-Founder Chris Larsen Moving XRP Again?
Ripple co-founder Chris Larsen-linked wallet addresses have become active again, according to on-chain explorer XRPScan data. Notably, XRP transfers and shifts in Chris Larsen’s wallets have historically been tied to massive price fluctuations.
On-chain analysis revealed slight XRP movements in chrislarsen (5) and chrislarsen (7) wallets. The chrislarsen (5) saw a 0.000137 and 0.000001 coin inflows. Meanwhile, chrislarsen (7) recorded 0.000137 XRP moving in the wallet.
While the wallets recorded only small amounts of coins moving, related subwallets recorded slightly larger XRP transfers. These wallet accounts are now labeled as “deleted,” raising speculations.
According to CryptoQuant data, wallets linked to Chris Larsen moved out almost 250 million XRP since July last year. Some coins were moved to crypto exchanges such as Coinbase, triggering massive liquidations by whales and retail investors.
The latest transfers come as Ripple co-founder Chris Larsen plans to donate millions in the US midterm elections. Notably, he has already revealed $3.5 million in donations to support New York Democrat candidate Alex Bores.
Chris Larsen also plans to support Gavin Newsom in the 2028 presidential elections. Crypto firms such as Ripple and Coinbase have poured millions into PACs and initiatives ahead of the 2026 midterm elections.
CryptoQuant data revealed Chris Larsen holds billions of XRP, representing a notable portion of the supply. The unrealized profit has increased to $764.2 million.
XRP Price Holds Near $1.35
XRP price jumped to $1.35 after a recent plunge to a low of $1.30 during the crypto market crash, as warned by CoinGape. The 24-hour low and high are $1.33 and $1.36, respectively. Furthermore, trading volume has decreased by almost 5% over the last 24 hours, indicating a decline in interest among traders.
In the daily timeframe, the price is still trading below the 50-SMA, 100-SMA and 200-SMA at the time of writing. Whereas, the relative strength index (RSI) climbed slightly to 43.28, signaling potential for an upside move. As per an XRP price prediction, the coin may jump to $1.58 as the CME launches 24/7 XRP futures trading on May 29.
CoinGlass data showed mixed sentiment in the derivatives market. At the time of writing, the total XRP futures open interest jumped 0.20% to $2.86 billion in the last 24 hours. Meanwhile, futures open interest on CME and Binance dropped more than 0.28% and 0.66%, respectively.
