XRP Price Holds Near $1.35 as Chris Larsen-Linked Wallets Show Fresh Activity

Ripple co-founder and Executive Chairman Chris Larsen is once again drawing attention from the crypto market after XRP-linked wallet activity resurfaced ahead of the upcoming U.S. midterm elections. According to XRPScan data, several wallet addresses associated with Larsen recorded small XRP transfers, sparking renewed speculation among traders and analysts about potential market implications.

The wallets labeled “chrislarsen (5)” and “chrislarsen (7)” showed minimal XRP inflows and movements, including transfers of 0.000137 XRP. While the amounts were relatively small, linked subwallets reportedly processed larger XRP transactions before being marked as “deleted,” adding to investor curiosity.

Historically, movements tied to Chris Larsen’s XRP wallets have been closely monitored because they have often coincided with increased market volatility. Data from CryptoQuant revealed that nearly 250 million XRP has been moved from Larsen-linked wallets since July last year. Some of these transfers were reportedly sent to major crypto exchanges like Coinbase, contributing to broader whale activity and market liquidations.

The renewed wallet activity also comes as Larsen increases his political involvement. Reports indicate he previously donated $3.5 million to support New York Democrat candidate Alex Bores and may continue backing political campaigns leading into the 2026 U.S. midterm elections. Ripple and Coinbase have also increased spending on crypto-focused political initiatives and PACs.

Meanwhile, XRP price continues to trade near the $1.35 level after recovering from a recent dip to $1.30 during the broader crypto market correction. XRP’s daily trading range currently sits between $1.33 and $1.36, while trading volume has slightly declined over the past 24 hours.

Technical indicators remain mixed. XRP is still trading below its 50-day, 100-day, and 200-day simple moving averages, signaling ongoing resistance. However, the Relative Strength Index (RSI) has climbed to 43.28, suggesting improving bullish momentum. Analysts believe XRP could target $1.58 if momentum strengthens further, especially with CME preparing to launch 24/7 XRP futures trading on May 29.

Derivatives market data from CoinGlass also showed mixed investor sentiment. XRP futures open interest increased slightly to $2.86 billion, although activity on CME and Binance recorded mild declines.