• XRP fell 10% to $3.09 after $175M worth of tokens were moved to exchanges.
• Whale transfers triggered speculation of a potential sell-off and market manipulation.
• The community remains divided between supporters of decentralization and concerns from retail investors.

XRP resurfaced in the headlines after a spontaneous 10% drop in value due to mass XRP transfers by Ripple co-founder Chris Larsen. From July 17 to July 23, 2025, Larsen was reported to have transferred 50 million tokens, valued at approximately $175 million, to four separate wallet addresses.

On-chain analyst ZachXBT reported that nearly $140 million of that was deposited directly to centralized exchanges, a common indicator that a large-scale liquidation is upcoming.

These transfers generated intense speculation due to them happening so soon after XRP set a new high of $3.60 on July 18. The value dropped as low as $2.99 by July 24 before stabilizing around $3.09.

Both the transfers and their recent proximity to the top of the level induced many within the crypto community to point to Larsen for instilling selling pressure and damaging market confidence.

Even though Ripple and Larsen have not commented yet, silence has done nothing but fuel community distrust as much as market nervousness. This is not a new phenomenon for Larsen’s operations. In January 2025 alone, he has reportedly moved more than $344 million worth of XRP, including an $8 million move to Coinbase on July 15 and 16, while XRP was close to $3.25.

Larsen remains one of XRP’s largest shareholders with a reported 2.6 billion coins that would be valued close to $8.03 billion based on today’s value. His influence on XRP’s supply and feelings of centralization is a subject of discussion in the crypto space.

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XRP Community Split Over Massive Token Transfers

The broader XRP community is divided. While some see the transfers as being consistent with Ripple’s long-term plan towards decentralization, other individuals see them as opportunistic transfers harming retail investors. A scorned critic even accused Larsen of “dumping on his autistic fan base,” reflecting the emotional level of response.

Supporters argue that the moves could be part of a long-term redistribution, yet without definitive word from both sides, neither argument can resolve the row. In any event, the token has a healthy market standing with a capitalization of nearly $183 billion.

It even touched a 1-month high of $3.56 on July 22, 2025, before it began declining. There is a chance that the token could again touch its previous all-time high of $3.84 if positive market conditions return, along with some more bullish news, such as XRP Futures listings as well as ETF demand from institutions.

However, the move signals a larger problem for the crypto market: insider trading and a lack of transparency. Until Ripple or Larsen clarifies it themselves, the token’s short-term direction doubts will remain with traders keenly observing any more large-scale action from top holders.

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