Ripple Co-Founder Moves $175M in $XRP — Market Reacts! 💸📉🧠

🚨 XRP hit a new ATH at $3.65 on July 18, pushing its market cap to $215B. But co-founder Chris Larsen transferred 50M XRP (~$175M), sparking concerns.

🏦 $30M was moved to Coinbase, likely for selling. Transfers went to exchanges and new wallets—timed with XRP’s price peak.

📉 XRP dropped 10.3% on July 23, triggering $7.3M in long liquidations. Derivatives markets took a hit with $25M wiped, $16.4M from longs.

📊 Exchange reserves rose from 2.75B to 2.98B XRP since May, signaling increased sell-side pressure—even as price hit ATH.

🛡️ The $2.9–$3 zone remains a key support. XRP could consolidate here short-term while spot and derivatives markets cool before another move up.