XRP drops to $3.09 after Ripple co-founder Chris Larsen moves $175M to exchanges, sparking selloff fears amid peak prices.
The price of XRP has decreased by over 10% in the past 24 hours, as evidenced by data indicating substantial transfers associated with Ripple’s co-founder. This has prompted apprehension regarding potential asset sales.
The price of XRP experiences a 10% decline in response to ripple-linked transfers
As it retreats from its most recent high, the price of the coin has decreased by more than 10%. The token plummeted below critical levels, including its pivot point of $3.27 and the 23.6% Fibonacci retracement at $3.28.
According to Coinglass data, this decline prompted stop-loss orders, which led to a significant increase in liquidations, with approximately $81.7 million in XRP futures. The bearish pressure was further confirmed by a 149.8% increase in trading volume over the past 24 hours.
Bitcoin’s dominance momentarily rebounded, resulting in the loss of nearly $100 billion in market capitalization across altcoins during the correction. In the interim, the Upbit exchange in South Korea reportedly escalated the sell-off, with the platform selling more than 75 million XRP. The pressure was further exacerbated by the MACD histogram, which narrowed from +0.06 the previous week to +0.041, indicating a decline in favorable momentum.
$175M was transferred by the co-founder of Ripple, according to on-chain data
Starting on July 17, 2025, a wallet associated with Ripple co-founder Chris Larsen transferred approximately 50 million XRP, equivalent to approximately $175 million, according to blockchain investigator ZachXBT. The allocation of approximately $140 million of these tokens to exchanges or related services resulted in immediate market speculation.
Each of the two new purses received 5 million tokens, and the transfers were distributed among several addresses. This pattern of movement elicited a vibrant discussion on social media. A few individuals proposed that it was a sell-off, while others believed it was an endeavor to enhance the decentralization of XRP’s supply.
Nevertheless, certain closely monitored analysts maintained their optimistic outlook, despite the instantaneous price reaction. Dark Defender proposed that XRP was merely undergoing a routine correction before its subsequent upward trajectory.
Whatever happened on November 23 happened yesterday—a complete normal correction. XRP is getting ready for the next leg up.
— Dark Defender (@DefendDark) July 24, 2025
Similarly, CrediBULL Crypto observed that XRP had successfully executed a “triple tap” setup, retested previous resistance converted to support, and could soon resume its upward trajectory from its recent lows near $1.90.
Despite the volatility, there is still a sense of optimism regarding the XRP lawsuit between Ripple and the U.S. SEC. The case is subject to a joint status report deadline of August 15. Numerous legal experts have anticipated that a settlement could be reached on or before that date.
The community perceives the potential settlement as advantageous for Ripple and its native token, as it could involve a penalty of approximately $50 million without a formal injunction, as per online speculation. Specific sources estimate this scenario to be 70–90% likely, suggesting that the recent XRP correction may be temporary.