Key Takeaways:
- Ripple co-founder moved approximately 55 million XRP (~$175M) between July 16–23, according to on-chain data.
- Transfers occurred near XRP price peaks (~$3.65 July 18), fueling accusations of “dumping” despite being internal wallet shifts.
- XRP price down about 10% over the past 24 hours, RSI signaling oversold levels potentially amplified by these movements and scam surge warnings.
On-chain data has revealed that the Ripple co-founder and executive chairman Charles Larsen executed multiple transfers of XRP across different wallets between July 17 and 23, 2025, totaling roughly 55 million tokens with its value equivalent to around $175 million at the time. These movements have been documented by blockchain analytic firms, drawing attention and igniting backlash from the crypto community, perceiving these transactions to be allegedly a way of “dumping” near market highs. It is recalled that the token reached its new all-time high after breaking its past record levels and hitting $3.66 mark.
ZachXBT, an anonymous blockchain investigator, flagged the transactions in their X post last Thursday, noting that XRP worth $140 million was transferred to centralized exchanges or services. These transactions are usually interpreted a “cash out” intent. ZachXBT also shared about the current holdings of the XRP co-founder in his reply to a user, noting:
Wallets linked to Chris Larsen still hold over 2.81 billion XRP (worth $8.4 billion).
However, Ripple sources pointed out the transfers were between private wallets and custodial addresses, not direct sales on exchanges. Still, market participants saw the timing as suggestive: moving large amounts of XRP at a price peak typically signals potential intent to liquidate.
What Analysts Are Saying
Blockchain analyst Sarah Nguyen commented, “On‑chain transfers by insiders don’t always imply selling, but when done near market peaks, they can unsettle retail investors especially amid scam fears.” Nguyen added that scammers often exploit such high-profile movements by deploying spoofed transaction notices through Telegram and X channels, preying on investor FOMO.
Price and Market Impact
As of writing, XRP trades at $3.15, down roughly 8.2% in the past 24 hours. This is a sharp decline from its recent ATH of $3.66 on July 18. CryptoWaves’ latest data reveals XRP is nearing overbought territory with its current RSI (4H) around 35, signaling a growing bearish momentum. MACD remains negative, reinforcing the downtrend. On bitget, however, XRP still shows a slight buy bias based on moving averages albeit mixed oscillator signals.
The significant sell-off follows confirmation that the wallet movements involved internal reallocations. Yet, investor psychology often reacts first to the “co-founder” tag and assumes dumping. Combined with scam alerts, that narrative appears to have weighed on price sentiment.
Broader Implications
Large insider movements often amplify narratives around crypto portfolio management, especially when tied to potential profit realization. The XRP community has seen intensified discussions on verified social media accounts, with heated debates about transparency, Ripple’s long-term trustworthiness, and whether such movements should trigger mandatory disclosure.
In the near term, XRP faces downward pressure as market participants digest the co-founder’s token movements and heightened scam warnings. With RSI in oversold territory, a technical bounce may come, but it still depends on broader sentiment stabilization.
Summary
Ripple co-founder Charles Larsen moved approximately 55 million XRP (~$175 million) between July 16–23, coinciding with XRP’s recent peak around $3.66. Though Ripple claims these were internal wallet shifts, on-chain analysts and the crypto community perceived the timing as a possible “dump,” fueling sell-off pressure. Blockchain investigator ZachXBT noted over $140M of XRP was routed to exchanges. XRP has since dropped to ~$3.15 with RSI approaching oversold levels. Combined with rising scam alerts, the backlash has renewed debates on transparency and insider conduct within the XRP ecosystem.
