Ripple co-founder Chris Larsen transferred $26 million in XRP to Coinbase ahead of the ETF launch. The wallet moved 8 million XRP tokens, totaling over $26 million. This year, the same wallet has transferred 106 million XRP worth $344 million. XRP’s market cap is $194 billion, making it the third-largest cryptocurrency.

Larsen’s estimated net worth is $10 billion, ranking him among the world’s wealthiest. XRP surged more than 30% in the last week, trading at $3.31, just 15% below its all-time high. The recent increase is due to anticipation around the Proshares Ultra XRP ETF launch on July 18.

The U.S. administration declared the week of 14th “Crypto Week,” with the House of Representatives set to debate crypto bills. If passed, these bills could trigger a further rally in the crypto market. XRP’s financial status remains under scrutiny amid ongoing court battles.

Read more at Yahoo Finance: Ripple co-founder makes surprising $26M XRP move as ETF launch nears