XRP Falls 14% Following $175 Million Transfer by Chris Larsen’s Wallet

XRP recently declined from its peak, influenced by significant transactions from a wallet linked to Ripple co-founder Chris Larsen. Key points include:

The wallet moved 50 million XRP (approximately $175 million) between July 17 and July 24.
About $140 million was sent to centralized exchanges, indicating potential liquidation intentions.
XRP reached a record high of $3.64 before falling to around $3.
Larsen's wallets hold over 2.81 billion XRP (valued at $8.4 billion), representing about 4.6% of XRP’s total market cap.
XRP has dropped over 14% in the past week, with major losses attributed to a liquidation event that eliminated over $105 million in long positions during a broader $735 million market crash.
The price tested support levels around $3.06–$3.10 before stabilizing near $3.08.
Analysts are targeting a medium-term price of $6.