XRP News Today: Binance Liquidates $7.3M XRP Longs After 10% Drop Linked to Larsen's Sales

Generated by AI AgentCoin World
Friday, Jul 25, 2025 11:17 am ET1min read
XRP
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Aime RobotAime Summary

- Binance liquidated $7.3M XRP longs after a 10% price drop linked to suspected large-scale sales by Ripple co-founder Chris Larsen.

- On-chain data revealed 50M XRP ($140M) transferred from a wallet associated with Larsen, accelerating market volatility and margin calls.

- Global crypto liquidations hit $957M in 24 hours as XRP’s 19% drop since July 21 triggered panic selling and risk-off sentiment.

- Analysts highlight the fragility of leveraged positions amid sudden token movements, emphasizing on-chain transparency’s role in shaping market reactions.

Binance reported the liquidation of $7.3 million worth of

XRP
long positions on July 23, following a 10% single-day price drop for the token. This marked the third-largest XRP liquidation event on the exchange since January 2025, with 2.3 million XRP wiped out in leveraged trading accounts. The selloff coincided with reports of large-scale XRP transfers linked to
Ripple
co-founder Chris Larsen, triggering heightened market volatility [1].

On-chain analyst ZachXBT identified a wallet associated with Larsen transferring 50 million XRP—valued at approximately $140 million—across exchanges. These movements, which accelerated after July 15, included a 42 million XRP withdrawal on July 24 alone [1]. Analysts attributed the subsequent price decline to selling pressure from these suspected large-scale disposals. XRP’s cumulative drop of nearly 19% since July 21 exacerbated margin calls, particularly on leveraged long positions [1].

The liquidation of long positions on Binance intensified as traders scrambled to cut losses. Market data showed $957 million in crypto long positions were liquidated globally in the 24 hours ending July 24, with XRP’s sharp decline contributing to a broader risk-off sentiment [2]. Traders noted the correlation between large token movements by key industry figures and market instability, underscoring the sensitivity of leveraged positions to sudden price swings.

While no official confirmation has been provided regarding the ownership of the wallet in question, the activity has raised questions about the influence of institutional sales on retail trading dynamics. Darkfost, a crypto market observer, highlighted the direct link between the alleged sales and the XRP selloff, emphasizing the role of on-chain transparency in shaping market reactions [1].

Market participants remain cautious as XRP trades near a multi-month low. The episode underscores the fragility of leveraged positions in the face of large token movements and highlights the importance of monitoring on-chain activity for early warning signals.

Source:

[1] [Binance Sees $7.

3M
XRP Longs Wiped Out Amid Larsen’s Suspected Sales] (https://coinmarketcap.com/community/articles/68839d15dbb6924946204153/)

[2] [Crypto Market Liquidations Hit $957M in 24 Hours] (https://twitter.com/cryptohodlpod/status/1948354032952840572)