XRP Tumbles 14% Amid Whale-Sized Transfer From Ripple Co-Founder’s Wallet

XRP Slides 14% as Ripple Co-Founder’s Wallet Sends $175M to Exchanges

XRP’s recent rally stalled after major token transfers from a wallet linked to Ripple co-founder Chris Larsen sparked renewed selling pressure.

Between July 17 and July 24, the wallet moved 50 million XRP — worth around $175 million — with approximately $140 million of that directed to centralized exchanges, according to blockchain analyst ZachXBT. Such transfers are often seen as signals of planned liquidation.

“Since July 17, a wallet linked to Chris Larsen sent out 50M XRP ($175M) to four addresses, with ~$140M reaching exchanges,” ZachXBT posted.

The transactions closely followed XRP’s brief surge to $3.64, its highest price since 2021. The token has since pulled back, trading near $3.08 at last check.

Larsen and Ripple have not publicly commented on the movement of funds. Wallets associated with Larsen still hold an estimated 2.81 billion XRP, valued at roughly $8.4 billion — representing about 4.6% of XRP’s total market capitalization.

The decline also coincided with a broader crypto market sell-off that triggered more than $735 million in liquidations across digital assets. XRP long positions saw over $105 million in liquidations — the second-highest among altcoins during the rout.

XRP tested critical support between $3.06 and $3.10 before showing signs of stabilization. Still, analysts remain cautiously optimistic, with some continuing to eye a medium-term price target around the $6 level.