News View Non-AMP

Ripple Co-Founder Chris Larsen Moves $175M XRP, What’s Happening?

Published by
Nidhi Kolhapur and Qadir AK

XRP has seen intense activity this week, with large whale transfers triggering market-wide speculation. Ripple co-founder, Chris Larsen, is facing backlash after moving 50 million XRP, worth $175 million, between July 17 and 23. Blockchain investigator ZachXBT flagged the transfers, noting that about $140 million went to centralized exchanges, which indicates a possible sell-off.

Larsen’s $175M XRP Moves Sparks Speculations

Two addresses received the bulk of the transfer, 30 million XRP each, with another address receiving 10 million XRP. The remaining $35 million in XRP was split between two newly created wallets, receiving 5 million XRP each.

However, the timing has sparked speculation in the community. Some users accused Larsen of dumping on loyal holders, while others argue that he is simply decentralizing his XRP to long-term holders. With over 2.81 billion XRP still in Larsen-linked wallets, the moves have raised questions about intent and impact on the market.

XRP had just hit a local high of $3.60 before falling below $3.10, a 17% drop. Chris Larsen still controls over 2.8 billion XRP, worth about $8.4 billion. That’s nearly 5% of all XRP in existence.

Over $140M in XRP Moved to Coinbase

Data from Whale Alert shows that yesterday, 16.8 million XRP, worth $58.3 million, was transferred from an unknown wallet to Coinbase. Such movements often indicate that a whale may be preparing to sell, which can create downward pressure on the price.

The activity continued today, as in total, over 44 million XRP (worth more than $140 million) has been transferred from unknown wallets to Coinbase in the past 24 hours.

According to XRPwalllets, the large XRP transactions took place between Coinbase’s cold wallets and exchange wallets. While these are likely internal transfers, they suggest that Coinbase may be actively reallocating liquidity or preparing funds for trading, withdrawals, or institutional activity.

Whale Transfers Continue

Previously, two back-to-back transfers of over 200 million XRP, worth $700 million were tracked, which were probably from Ripple-owned wallets.

XRP is currently trading at $3.15, down 6% in the last 24 hours. Analysts say that the recent XRP drop is just a normal pullback and part of a bigger bullish trend. XRP may have already finished its Wave 4 correction or it could dip to around $2.64 before starting Wave 5 upward. The outlook stays positive, with higher prices likely coming soon.

FAQs

Why did Chris Larsen transfer 50 million XRP?

Chris Larsen moved 50M XRP, likely to exchanges, sparking speculation about a possible sell-off or fund reallocation.

How much XRP does Chris Larsen still hold?

Chris Larsen reportedly holds over 2.8 billion XRP, valued at around $8.4 billion—nearly 5% of the total XRP supply.

Why is XRP price dropping after reaching $3.60?

XRP dropped due to large whale transfers, profit-taking, and short-term sell pressure, despite long-term bullish sentiment.

Nidhi Kolhapur and Qadir AK

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Recent Posts

Three Whale Approved Altcoins To Buy Before October

Crypto whales, often seen as the "smart money" in digital assets, have been loading up…

September 28, 2025

XRP Price Prediction After October 2025 ETF Approvals

The crypto market is watching October closely as the SEC faces deadlines for multiple ETF…

September 28, 2025

New XRP ETF Filing Warns of Whale Manipulation Risk

A fresh ETF filing with the U.S. Securities and Exchange Commission (SEC) has flagged whale…

September 28, 2025

CZ Clarifies Binance Has No Official Role in Aster DEX’s Rapid Growth

The cryptocurrency world loves rumors, and lately, many have been circulating about Binance founder Changpeng…

September 28, 2025

Crypto Treasuries Companies May Crash Markets Nearly 80%, Like Dotcoms!

Crypto treasuries have become the talk of this market cycle, with institutions and corporations scooping…

September 28, 2025

Dogecoin Price at Risk: 20% Drop Looms if Bulls Fail to Reignite Momentum

Dogecoin (DOGE) has recently pushed past the $0.24 mark, signaling renewed strength in its price…

September 28, 2025