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XRP Drops 14% After $175M Moved to Exchange by Ripple Co-Founder's Wallet
The transactions occurred shortly after XRP touched $3.60, its highest level since 2021, before pulling back to around nearly $3.
Updated Jul 25, 2025, 8:07 a.m. Published Jul 25, 2025, 7:41 a.m.
What to know:
- XRP fell over 14% this week after large transactions linked to Ripple co-founder Chris Larsen.
- A wallet attributed to Larsen moved 50 million XRP, with $140 million sent to exchanges, suggesting potential liquidation.
- XRP's price drop followed its peak at $3.60, with traders eyeing a $6 target despite recent losses.
XRP slipped from last-week's record high as a wallet attributed to Ripple co-founder Chris Larsen made a number of large transactions.
Between July 17 and July 24, the wallet transferred 50 million XRP, worth approximately $175 million. Some $140 million of that was directed to centralized exchanges, according to blockchain analyst ZachXBT.
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Transferring tokens to an exchange is widely interpreted as an intention to liquidate holdings for stablecoins or other tokens because large amounts are usually not stored on exchanges for a long time.
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The transactions occurred shortly after XRP touched a record $3.64 before pulling back to around $3.
Neither Larsen nor Ripple has commented on the matter publicly.
“Wallets linked to Chris Larsen still hold over 2.81 billion XRP (worth $8.4 billion),” ZachXBT noted. That represents about 4.6% of XRP’s total market cap.
XRP is down over 14% in the past week, with the bulk of the losses coming from a liquidation cascade on Thursday that wiped out over $105 million in XRP long positions, the second-largest altcoin liquidation during a $735 million crypto market crash.
The liquidations came as XRP dropped as much as10%, testing support in the $3.06–$3.10 zone before price stabilized near $3.08.
Despite the price drop, traders and analysts are targeting the $6 mark in the medium term, as CoinDesk reported earlier this week.
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