XRP fell from the record of the last week as a wallet attributed to the co -founder of Ripple, Chris Larsen, made a series of large transactions.
Between July 17 and July 24, the wallet transferred 50 million XRP, for an approximate value of $ 175 million. According to Blockchain analyst, Zachxbt, headed at a price of $ 140 million to centralized centralized exchanges.
The transfer of tokens to an exchange is widely interpreted as an intention to liquidate holdings for stables or other tokens because large quantities are generally not stored in exchanges for a long time.
The transactions occurred shortly after XRP touched a $ 3.64 record before going back to about $ 3.
Neither Larsen nor Ripple have publicly commented on the matter.
“Wallets linked to Chris Larsen still have more than 2.81 billion XRP (with a value of $ 8.4 billion),” Zachxbt said. That represents approximately 4.6% of the total XRP market limit.
XRP has dropped more than 14% in the past week, with most of the losses from a liquidation waterfall on Thursday that eliminated more than $ 105 million in long XRP positions, the second largest liquidation of Altcoin during a collapse of the criptographic market of $ 735 million.
The liquidations occurred when XRP fell to 10%, testing the support in the $ 3.06– $ 3.10 zone before the price was stabilized by about $ 3.08.
Despite the price drop, merchants and analysts are pointing to the $ 6 brand in the medium term, as Coindesk reported earlier this week.
