XRP slipped from record highs in its last week as Ripple co-founder Chris Larsen made many large deals.
Between July 17th and July 24th, the wallet moved XRP worth approximately $175 million. About $140 million was being directed towards centralized exchange, according to blockchain analyst ZachxBT.
Transferring tokens into exchanges is widely interpreted as an intention to settle the holdings of stubcoins or other tokens, as the bulk has not been stored on the exchange for a long time.
Since July 17, 2025, the address linked to Ripple co-founder Chris Larsen has forwarded 50m XRP ($175M) to four addresses.
Ultimately, $140 million ended on the exchange/service
30M XRP Recipient
rps9kvpbgzf4vxq2hs6s9xv2754qdrau98
rnqxggajqbf4kobpcbk5ybhyzel7ngwooi
10m XRP recipient…– Zachxbt (@zachxbt) July 24, 2025
The transaction occurred shortly after XRP touched the record $3.64 and returned to about $3.
Neither Larsen nor Ripple publicly commented on the issue.
“The wallet linked to Chris Larsen still holds over 2.81 billion XRP (valued by $8.4 billion),” Zachxbt said. This represents approximately 4.6% of XRP’s total market capitalization.
XRP has surpassed 14% in the past week, with the majority of losses from the liquidation cascade on Thursday wiped out more than $105 million in the XRP long position.
I tested support in the $3.06-3.10 zone before liquidation occurred when XRP reduced AS10% and stabilized at nearly $3.08.
Despite the price drop, traders and analysts are targeting the $6 mark in the medium term, as we reported earlier this week.
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