XRP price has dropped from its recent highs, but analysts remain bullish about the coin.
Ripple co-founder Chris Larsen has reportedly transferred $175 million worth of XRP to exchanges. This transaction has raised eyebrows as it coincides with ongoing volatility in XRP, prompting investors to monitor on-chain activities.
Popular blockchain sleuth ZachXBT brought the market’s attention to the massive XRP transfers. According to ZachXBT, a crypto wallet tied to Chris Larsen transferred 50 million XRP valued at approximately $175 million to four different addresses.
In the first transaction, the Larsen-linked wallet transferred 30 million XRP to an unknown address. The remaining 20 million XRP were moved in three other transactions.
ZachXBT noted that the wallets linked to Larsen still hold over 2.81 billion XRP, valued at about $8.4 billion. The motive behind the transfers remains unknown. However, when tokens are shifted to exchanges, it is usually interpreted as an intent to sell.
As of this writing, the XRP price was down 0.66% and traded at around $3.15, with a market cap of $186 billion. Thus, Larsen’s holding accounts for about 4.6% of XRP’s total market cap. This could create intense selling pressure if moved rapidly.
The timing of $175 million transfers drew criticism among investors. XRP touched a local high above $3.3 on Wednesday, July 23, 2025, before falling to the current $3.1 level. This decline led to some accusing Larsen of “dumping” on the market.
Despite the price volatility, trading activity remains high. Within the past 24 hours, XRP trading volume has increased by 72.6% to $15.6 billion.
Meanwhile, XRP whale activities have skyrocketed over the past few weeks. As we covered in our latest report, wallets holding at least 1 million XRP increased to an all-time high level. This marks a shift from the previous distribution phase, where large holders liquidated their assets to secure profit.
Amid the declining XRP prices, some market players and stakeholders are confident in its future movement. Lukas Enzersdorfer-Konrad, deputy CEO of Bitpanda, said XRP could break its 2018 all-time high of $3.84.
According to Enzersdorfer-Konrad, the future upside of the coin will largely depend on favorable market conditions. He added that continued capital rotation from Bitcoin (BTC) into altcoins would also contribute to XRP reaching new highs.
Additionally, market analyst, The Great Mattsby, also predicted a bullish outcome for XRP. In a recent update, we covered that the analyst forecasted a 1,300% increase for the Ripple-backed coin.
He based his prediction on bullish patterns similar to the setup seen in 2017. Citing the Gann-based models, The Great Mattsby estimated a possible XRP price of $45 if those conditions repeat.
Furthermore, recent partnerships within the Ripple ecosystem may increase investor confidence, which could positively influence XRP. As featured in our recent coverage, Ripple has teamed up with Ctrl Alt, a tokenization platform. This new partnership marks Ripple’s first major custody collaboration in the UAE.
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