Larsen’s $175M XRP Sale Sparks Market Backlash

Ripple co-founder Chris Larsen transferred 50 million XRP, valued between $140 million and $175 million, to various exchanges and new wallets shortly after XRP hit an all-time high above $3.60 in mid-July 2025. Multiple blockchain analysts confirmed the large sales, which triggered an immediate price drop of over 10% and renewed concerns about insider holdings, with Larsen-linked wallets still controlling around 2.8 billion XRP (valued at $8–8.4 billion). The crypto community responded with backlash and accusations of market dumping, prompting renewed scrutiny of Ripple's early token distribution and insider sales practices. Some observers interpreted the transfers as routine profit-taking or attempts to decentralize holdings, while others warned of the risk of further sell pressure. The timing of the transfers also coincided with a surge in XRP-related scams, leading Ripple executives to issue warnings about impersonators and fraudulent schemes. Despite the controversy and price volatility, XRP remains the third-largest cryptocurrency by market value, and overall market sentiment is firm.