XRP Drops 14% After $175M Moved to Exchange by Ripple Co-Founder's Wallet

My Take on the XRP Dip and the Moves Behind It

This past week has been quite a ride for #Xrp🔥🔥 . I was closely watching as the token spiked to $3.60—its highest level since 2021—before it quickly pulled back to nearly $3. The price action alone was dramatic, but what really caught my attention were some massive transactions tied to Ripple’s co-founder, Chris Larsen.

From July 17 to July 24, a wallet attributed to Larsen moved a staggering 50 million XRP, which equates to about $175 million. What’s even more interesting is that around $140 million of that was sent directly to centralized exchanges. That usually hints at a possible liquidation or at least a plan to sell, which may have influenced the sudden dip.

As a result, XRP dropped over 14% this week. Despite this correction, many traders—including myself—are still optimistic, eyeing that ambitious $6 target. But these whale movements can’t be ignored. They clearly had an impact on the market, especially coming off such a strong rally.

It’s a classic example of how large holders can shake up momentum just when it seems like things are taking off.