XRP Retreats as Ripple Co-Founder’s Wallet Moves $175M to Exchanges

XRP saw a sharp pullback this week after blockchain analysts flagged major token transfers from a wallet linked to Ripple co-founder Chris Larsen.

Between July 17 and July 24, the wallet moved 50 million XRP — valued at roughly $175 million — with approximately $140 million sent to centralized exchanges, according to blockchain sleuth ZachXBT. These transfers came shortly after XRP hit a multi-year high of $3.64, before retreating to near $3.

Transfers of this scale to exchanges are typically interpreted as sell signals, suggesting an intent to convert tokens into stablecoins or other assets.

“Since July 17, 2025, an address linked to Ripple co-founder Chris Larsen transferred out 50M XRP ($175M) to four addresses,” ZachXBT wrote, noting that most of the funds eventually landed on exchanges or services.

Neither Larsen nor Ripple has publicly commented on the transactions.

Despite the recent sales, the wallets attributed to Larsen still hold over 2.81 billion XRP — currently valued at $8.4 billion — representing around 4.6% of the total circulating market cap.

XRP has declined more than 14% over the past week, primarily driven by a wave of liquidations that swept through the crypto market on Thursday. Over $105 million in XRP long positions were wiped out — the second-largest among altcoins — amid a broader $735 million selloff across digital assets.

XRP briefly plunged nearly 10% during the cascade, testing key support levels in the $3.06–$3.10 range before stabilizing around $3.08.

Despite the recent volatility, market participants remain cautiously optimistic. As CoinDesk previously reported, analysts are still eyeing a potential medium-term move toward $6, assuming bullish momentum resumes.