The price of XRP is facing fresh bearish pressure. This price dip comes as Ripple co-founder Chris Larsen moved 50 million XRP, worth around $170 million, to several different wallets.
Blockchain data shows that these transfers started on July 17. The tokens were sent to four different wallets. Two of those wallets received 30 million and 10 million XRP and appear to be linked to crypto exchanges or third-party services. The other 10 million XRP was split between two new wallets, each getting 5 million XRP.
Just a few days ago, $26 million worth of XRP was sent to Coinbase. While Larsen hasn’t shared any reason for these transfers, the timing has made many traders nervous.
Investors are clearly uneasy. Over the past week, more than 450 million XRP has been sold, which is worth over $2.8 billion. This sudden spree of selling shows that many are losing trust in XRP’s short-term growth.
Currently, XRP is trading around $3. It is struggling to move past a key resistance level between $3.18 and $3.25. Until the price breaks through this zone, XRP will remain under pressure.
XRP recently bounced from the $3.04 level, which is a common support point based on trading patterns like Elliott Wave Theory.
There are also early signs of a possible recovery. Some indicators, like the RSI on shorter timeframes, are showing strength. This means the selling might be slowing down, and a bounce could be near. If XRP can rise above $3.21 again, that would be a good sign that the recent low might be the bottom. If not, the price might fall again and retest $3.04.
Despite the short-term drop, XRP has been one of the top performers in 2025. It has gained over 220 percent so far this year. The current market cap of XRP is around $185 million. The ongoing legal battle with the SEC is still important, but overall interest in XRP remains strong.
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