The XRP price has dropped more than 10% in just 24 hours, as data shows large transfers connected to Ripple’s co-founder. This has raised concerns of potential sell-offs.
XRP Price Slumps 10% Over Ripple-Linked Transfers
The XRP price has fallen over 10% as it pulls back from its recent peak. The token dropped below important levels, going under its pivot point of $3.27 and the 23.6% Fibonacci retracement at $3.28.
This drop triggered stop-loss orders, resulting in a surge of liquidations totaling approximately $81.7 million in XRP futures, according to data from Coinglass. Trading volume also spiked by 149.8% over the past 24 hours, confirming the bearish pressure.
The correction wiped out nearly $100 billion in market capitalization across altcoins, as Bitcoin’s dominance briefly rebounded. Meanwhile, South Korea’s Upbit exchange reportedly intensified the sell-off, with over 75 million XRP sold on its platform. The MACD histogram, which showed a waning of bullish momentum, narrowed to +0.041 from +0.06 the previous week, adding to the pressure.
On-Chain Data Shows $175M Moved by Ripple Co-Founder
Blockchain investigator ZachXBT reported that a wallet linked to Ripple co-founder Chris Larsen transferred about 50 million XRP, worth around $175 million, starting on July 17, 2025. Approximately $140 million of these tokens were allocated to exchanges or related services, causing immediate market speculation.
The transfers were divided among several addresses, including two new wallets, each receiving 5 million XRP. This pattern of movement sparked a lively discussion on social media. Some people suggested it was a sell-off, while others believed it was an attempt to improve the decentralization of XRP’s supply.
Despite the immediate price reaction, some well-followed analysts remained bullish. Dark Defender suggested that XRP was merely undergoing a routine correction before its next leg upward.
Whatever happened on November 23 happened yesterday—a complete normal correction. XRP is getting ready for the next leg up.
— Dark Defender (@DefendDark) July 24, 2025
Likewise, CrediBULL Crypto noted that XRP had completed a “triple tap” setup, retested previous resistance that had turned into support, and could soon resume its upward move from recent lows near $1.90.
Amid the volatility, optimism lingers over the XRP lawsuit between Ripple and the U.S. SEC. The case faces an August 15 deadline for a joint status report. Many legal observers have predicted that a potential settlement could be reached on or before that date.
According to online speculation, the likely settlement could include a penalty of around $50 million without any formal injunction, an outcome seen by the community as bullish for Ripple and its native token. Some voices estimate a 70–90% probability of this scenario, adding hope that XRP’s recent correction might be short-lived.
Michael Adeleke
Michael Adeleke is a passionate crypto journalist known for breaking down complex blockchain concepts and market trends into clear, engaging narratives. He specializes in delivering timely news and sharp market analysis that keeps crypto enthusiasts informed and ahead of the curve. With an engineering background and a degree from the University of Ibadan, Michael brings analytical depth and precision to every piece he writes.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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