Ripple Cofounder moves $175 million XRP amid 11% price crash

ZackXBT reports that Ripple’s co-founder Chris Larsen transferred around $175,000,000 worth of XRP to four different addresses between July 17 and August 1. On July 18, the asset reached a record high of $3.65, but since then has seen a large correction. XRP’s price has dropped 11.1% in the past 24 hours.

What is the cause of XRP’s recent price drop?

Larsen moved XRP worth $175,000,000 to four separate addresses in the past week. Despite this reshuffling there are no signs that Larsen has sold or plans to sell his XRP.

Ripple XRP has experienced a huge price increase over the past year. Although the asset’s price is down by 11.1% daily and 2.2% weekly, its rally has been 26.9% on 14-day charts. It’s also up 41.5% for the monthly charts. And it’s 415.1% over July 2024. as per CoinGecko’s XRP statistics.

XRP’s huge rally occurred after Bitcoin (BTC), which had reached a record high of $122,834 in July, experienced a big surge. This bullish turnaround may have been caused by an increase in crypto-based ETFs. The passing of pro-crypto legislation by the US House of Representatives Investor sentiment may also have been boosted by the news earlier in the month.

Why has the stock market fallen today?

XRP, and the wider cryptocurrency market in general, have experienced a major correction on July 24, 2025. According to CoinGlass data on XRPOver $970 Million worth of assets have been liquidated over the last 24 hour.

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Investors may have taken profits to offset the correction. The uncertainty surrounding trade and tariffs could have also prompted investors to be cautious. It is possible that the Federal Reserve’s decision to leave interest rates unchanged following its last meeting has also contributed to market participants’ caution.