XRP drops 17% as $175 million whale activity rattles market

XRP’s recent price turbulence has been closely tied to a flurry of large-scale token movements, including more than $175 million worth of XRP shifted by Ripple co-founder Chris Larsen.

The timing of these transfers—occurring between 17 July and 23 July—coincided with a sharp 17% price drop, taking XRP from a local high of $3.60 down to below $3.10.

Blockchain data shows that over 44 million XRP, valued at more than $140 million, was moved to Coinbase in the last 24 hours alone, signalling intense market activity.

Larsen-linked wallets moved 50 million XRP in July

Blockchain sleuth ZachXBT brought Larsen’s transfers to light on social platform X, identifying a total movement of 50 million XRP.