According to cryptocurrency sleuth ZackXBT, Ripple co-founder Chris Larsen has transferred 50 million XRP coins worth around $175 million to four addresses since July 17. The asset hit an all-time high of $3.65 on July 18, but has since faced a big correction. XRP has experienced an 11.1% price crash over the last 24 hours.
Is The Co-Founder Responsible for XRP’s Price Crash?
Larsen has moved $175 million worth of XRP to four different addresses over the last week. Despite the reshuffling, there is no indication that the Ripple co-founder has sold, or intends to sell, his XRP holdings.
Ripple’s XRP token has seen a massive price rally over the last year. While the asset is down 11.1% in the daily charts and 2.2% in the weekly charts, it has rallied 26.9% in the 14-day charts, 41.5% in the monthly charts, and 415.1% since July 2024, as per CoinGecko’s XRP statistics.
XRP’s big rally came after Bitcoin (BTC) hit a new all-time high of $122,834 on July 14. The bullish reversal may have been triggered by increased inflows into crypto-based ETFs. The passing of pro-crypto legislation by the US House of Representatives earlier this month may have also boosted investor sentiment.
Why Is The Market Falling Today?
XRP and the larger cryptocurrency market have faced a significant correction today, July 24, 2025. According to CoinGlass data on XRP, more than $970 million worth of assets were liquidated in the last 24 hours.
Also Read: Expert Predicts XRP Will Reach $2,000 Sooner Than You Think
XRP’s correction may be due to investors booking profits. Trade and tariff uncertainties may have also led to investors taking caution. The Federal Reserve’s decision to keep interest rates unchanged after its previous meeting may have also played a hand in market participants moving away from risky assets.