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Highlights
- XRP price fell over 10% in 24 hours, breaking below $3.27.
- Blockchain sleuth ZachXBT linked a 50M XRP transfer ($175M) to Ripple co-founder Chris Larsen.
- Dark Defender and CrediBULL Crypto see this as a normal correction, with XRP setting up for another move upward.
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.
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