XRP price fell sharply after the transfers, with critics accusing Larsen of dumping on retail investors.
Since July 17, Ripple co-founder Chris Larsen has moved 50 million XRP, worth approximately $175 million, to exchanges, according to Blockchain security sleuth ZachXBT. Netizens are bashing the 65-year-old Silicon Valley business executive, who is being accused of insider trading with Ripple.
Blockchain ZachXBT, in an X post on Thursday, revealed that the large volume of XRP was distributed to four separate wallet addresses. Roughly $140 million of the total amount appears to have ended up at exchanges or services.
Alongside the movement to exchanges, approximately $35 million in tokens was transferred to two new wallet addresses, but analysts are unsure about the motives behind these transactions.
The chatter on social media has caused XRP to shed over 9% of its value in the last 24 hours, now trading at $3.11 in Thursday’s US pre-market trading session. Ripple’s native token has dropped 14%, down from its all-time high $3.65.
Is Larsen cashing out XRP profits?
ZachXBT’s investigations and blockchain data show that three wallets received 30 million XRP between them, and a fourth wallet received 10 million XRP. Two other newly activated addresses were credited with 5 million XRP each, bringing the total movement to 50 million XRP in under a week.
When asked about how many tokens the former CEO is still holding, ZachXBT mentioned that the wallets still control more than 2.81 billion XRP. At the current market price of $3.11 per token, that stockpile is valued at $8.7 billion, roughly 4.6% of the $183 billion market capitalization of XRP.
The latest transfers came just as XRP surged to a local high above $3.60 last Friday before tumbling below $3.10. The price drop, now attributed in part to the selloff, has led to accusations that Larsen is taking profit and “dumping” on retail investors at Ripple’s token July peak.
“People still believe that XRP will go to 1000 Dollars lol, I don’t know why I was never interested in this token,” one user on X exclaimed.
ZachXBT, known for exposing crypto fraud and insider trading, responded sardonically to one post, saying, “Game is game,” implying such behavior may be routine in the space.
“The fact that XRP has been able to convince billions of people that it’s a legit Crypto revolution is the biggest social Engineering Art in the History of Capitalism. Must be studied and appreciated,” a trader surmised.
Larsen has moved over $344 million in XRP in 2025
So far, blockchain analytics platforms cited by several market activity trackers like ZachXBT have spotted several dormant wallets linked to Larsen that became active in early January.
On January 6, one of these addresses sent 10 million XRP, worth about $24 million at the time, to Coinbase. Additional transfers of 20 million XRP followed on January 16 and again on January 22 and January 29, reaching a total of 50 million XRP moved during that month.
Based on January’s average XRP price of $3.00 to $3.15, the total value of those transactions was estimated at $155 million.
The trend did not stop there. In July, another $26 million worth of XRP was sent to Coinbase. Year-to-date, the total value of XRP moved by Larsen-linked addresses now stands at approximately $344 million. Most of these funds were routed through exchanges such as Coinbase, Bitstamp, and Bybit, while a portion landed in unidentified wallets.
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