XRP Retreats from Highs After $175M Token Transfer From Co-Founder Wallet
XRP tumbled from recent highs after blockchain data revealed a series of large transfers from a wallet linked to Ripple co-founder Chris Larsen, raising concerns about potential sell pressure.
Between July 17 and July 24, the wallet moved 50 million XRP — worth roughly $175 million — with approximately $140 million routed to centralized exchanges, according to blockchain analyst ZachXBT. The transfers occurred just after XRP touched $3.64, its highest price since 2021, before retracing to near $3.
Large token transfers to exchanges are commonly interpreted as signs of intent to liquidate, given that long-term holdings are typically stored off-exchange.
“Since July 17, 2025, an address linked to Ripple co-founder Chris Larsen transferred out 50M XRP ($175M) to four addresses… ~$140M ended up at exchanges,” ZachXBT noted.
Neither Ripple nor Larsen has issued public statements in response to the transactions.
Despite the movement, wallets associated with Larsen reportedly still hold over 2.81 billion XRP — an estimated $8.4 billion — accounting for approximately 4.6% of the asset’s total market cap.
XRP has dropped more than 14% over the past week, with the bulk of the losses driven by a liquidation cascade on July 24 that erased over $105 million in leveraged long positions. The altcoin plunged as much as 10% in a matter of hours, briefly testing support in the $3.06–$3.10 range before bouncing modestly to close near $3.08.
The selloff was part of a wider market correction, during which total crypto liquidations surpassed $735 million.
Still, some traders remain optimistic. As previously reported by CoinDesk, analysts see a potential rebound toward the $6 level if market sentiment improves and ETF-related catalysts emerge in XRP’s favor.
