- XRP slumped after Ripple co-founder Chris Larsen moved 50 million XRP worth $170 million, triggering investor concerns and a market-wide selloff.
- Two major wallets received 30 million and 10 million tokens, likely tied to exchanges; $26 million more was sent to Coinbase.
- The altcoin is stuck below $3.25 resistance, with RSI showing mixed signals and $3.04 acting as key support.
Ripple’s cryptocurrency is facing new selling pressure as Ripple co-founder Chris Larsen made a major token transaction. From blockchain records, Larsen moved 50 million XRP, worth approximately $170 million, in several of his wallets beginning July 17, sending a panic among investors.
The funds were distributed into four wallets, according to on-chain analysis. Two of them were allocated significant shares, 30 million and 10 million XRP, respectively, and are believed to be related to crypto exchanges or custodial solutions. The remaining 10 million XRP were split equally into two new wallets, raising speculation of selloffs later on.
Adding more fuel to the speculation, another $26 million worth of XRP was sent to Coinbase recently. Even though Larsen did not publicly disclose why he sent the funds, timing alone has disrupted sentiment in the markets.
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XRP Struggles at $3.25 Resistance
The previous week saw over 450 million tokens change hands, $2.8 billion, a clear indication of active distribution from deep-pocketed holders. Additional selling pressure is a short-term indication of investor confidence taking a breather.
Currently, the altcoin is trading at $3.07, not able to breach an important resistance area between $3.18 – $3.25. A recent recovery from a $3.04 support base, characteristic of Elliott Wave Theory moves, created temporary hope of a reversal, but bullish activity is still in doubt.
The indicators provide a mixed signal. Relative Strength Index (RSI) on lower timeframes shows strength developing, indicating selling pressure is easing. A decisive breakout above $3.21 would confirm a short-term reversal, but a lack of breakout above this point would have XRP test the $3.04 support area.
Despite the recent drop, though, this year Ripple’s cryptocurrency was among 2025’s best-performing digital currencies, with gains of upwards of 220% thus far in 2025. Its current market value is about $185 million.
Although an unresolved lawsuit with the United States Securities and Exchange Commission still looms as a cloud, general investor appetite for the token remains high, irrespective of short-term volatility.
Also Read | XRP Drops 10% Following $175 Million Token Transfers to Exchanges
