Ripple Co-Founder’s Wallet Move Triggers 14% Slide in XRP After $175M Dumped to Exchange

XRP Retreats After $175M Token Transfer From Ripple Co-Founder’s Wallet

XRP’s recent rally lost momentum after large token movements from a wallet linked to Ripple co-founder Chris Larsen raised concerns among investors. The token, which briefly touched $3.64 — its highest price since 2021 — has since dropped over 14% amid heightened selling pressure and cascading liquidations.

Between July 17 and July 24, the wallet in question transferred 50 million XRP, valued at approximately $175 million. Blockchain investigator ZachXBT reported that about $140 million of this was moved to centralized exchanges — a step often viewed as a precursor to selling.

“Since July 17, an address connected to Larsen has sent 50M XRP to four addresses, with ~$140M reaching exchanges or service platforms,” ZachXBT posted.

Neither Larsen nor Ripple has issued a public statement regarding the transactions. According to ZachXBT, wallets associated with Larsen still hold over 2.81 billion XRP, worth approximately $8.4 billion — about 4.6% of the token’s total market cap.

XRP’s decline was exacerbated by a sharp wave of liquidations, with over $105 million in long positions wiped out on July 25. That made XRP the second-most liquidated altcoin during a broader $735 million market correction.

The token briefly fell 10%, testing key support between $3.06 and $3.10, before bouncing to stabilize near $3.08.

Despite the recent turbulence, some analysts maintain a bullish medium-term outlook for XRP, targeting the $6 level as adoption narratives and ETF speculation continue to drive long-term sentiment.