Meer098
Open Trade
Frequent Trader
4.9 Months
8 Following
9 Followers
15 Liked
0 Shared
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.
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.
$ETH Ethereum has been transitioning to Ethereum 2.0, which aims to improve scalability and energy efficiency. Major upgrades often affect ETH's price.
#MarketRebound The Bitcoin market rebound typically occurs after periods of significant price corrections or downturns, often triggered by broader economic events, regulatory news, or shifts in investor sentiment. After sharp declines, Bitcoin tends to recover as investor confidence returns, often fueled by renewed interest in its decentralized nature, institutional adoption, or favorable news around its use case. The rebound can be rapid, with Bitcoin sometimes regaining significant value within a short period, driven by a mix of market optimism, increased demand, and broader financial market trends. However, the volatility of Bitcoin means that its rebounds can also be unpredictable, with sharp fluctuations in price even during periods of recovery.
Login to explore more contents