XRP News Today: Ripple Co-Founder Transfers $175M XRP as Scams Surge Amid 12% Price Drop

On-chain data has highlighted a significant movement of XRP by Ripple co-founder Chris Larsen, who transferred $175 million worth of the token across multiple wallets within a week. According to blockchain investigator ZachXBT, the transactions occurred between July 17 and July 23, with 50 million XRP—equivalent to approximately $175 million—sent to four addresses. Two of these addresses were later associated with crypto exchanges or third-party services, while the remaining 10 million XRP was split into two new wallets, each receiving 5 million tokens [1]. Despite these outflows, Larsen’s wallets still hold over 2.81 billion XRP, valued at more than $8.4 billion at current prices.

The timing of the transfers coincided with a notable increase in XRP-related scams, prompting Ripple executives to issue urgent warnings. Ripple CEO Brad Garlinghouse used X to alert users about fraudulent actors exploiting the token’s recent price rally. “Like clockwork, with success and market rallies, scammers ramp up their attacks on the crypto community—PLEASE BEWARE of the latest scam targeting the XRP family,” he stated. Garlinghouse did not specify the tactics but referenced prior incidents involving deepfake videos and fake airdrops. Ripple’s official X account reiterated that the company or its executives would “NEVER ask you to send us XRP,” urging users to avoid sharing wallet credentials [1].

XRP’s price trajectory further contextualizes the activity. The token surged near its all-time high of $3.40 in recent weeks but has since retraced by over 12%, aligning with broader market corrections. Analysts note that large XRP movements often correlate with liquidity management or institutional activity, but the overlap with heightened scam reports has raised questions about potential signals of vulnerability [1]. The network’s rising transaction volume, meanwhile, has made it a prime target for fraud during periods of heightened attention.

Ripple’s response to the scam surge included reminders about security best practices, such as multi-factor authentication and verifying platform legitimacy. The company also emphasized ongoing collaboration with law enforcement to dismantle fraudulent operations. Despite these measures, scam reports linked to XRP have surged in recent weeks, according to CoinRank data [3]. This trend underscores the challenges of balancing market adoption with risk mitigation in a rapidly evolving crypto landscape.

The co-founder’s XRP transfers and the concurrent scam wave highlight the interconnectedness of asset movements and market dynamics. While Larsen’s actions remain unexplained, the broader context—regulatory uncertainties, price volatility, and fraudulent activity—has intensified scrutiny of XRP’s stability. Investors are now weighing the potential for regulatory clarity, including Ripple’s ongoing legal battles, against immediate risks posed by scams [2]. The interplay between large-scale token transfers and fraudulent schemes illustrates the complexity of maintaining trust in decentralized ecosystems.

Sources:

[1] [Ripple co-founder moves $175M in XRP in a week amid scam surge warnings](https://cryptoslate.com/ripple-co-founder-moves-175m-in-xrp-in-a-week-amid-scam-surge-warnings/)

[2] [XRP (XRP) Price Forecasts, Predictions & News](https://www.fxempire.com/crypto/ripple/news)

[3] [Ripple co-founder moves $175M in XRP in a week amid scam surge warnings](https://www.coinrank.io/)