XRP News Today: Binance Wipes Out $7.3M XRP Longs as Price Dives 19% Amid Suspected Larsen Sales

Generated by AI AgentCoin World
Friday, Jul 25, 2025 11:18 am ET1min read
XRP
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Aime RobotAime Summary

- Binance liquidated $7.3M in XRP long positions linked to suspected large-scale sales by Ripple co-founder Chris Larsen.

- XRP dropped 19% since July 21, with a 10% single-day plunge triggering cascading liquidations and heightened volatility.

- On-chain data revealed a wallet associated with Larsen transferred 50M XRP ($140M) across exchanges, intensifying selling pressure.

- The event highlighted systemic crypto market fragility, with $957M in leveraged positions liquidated in 24 hours amid regulatory scrutiny.

Binance experienced a significant liquidation event of

XRP
long positions, valued at approximately $7.3 million, following suspected large-scale sales linked to
Ripple
co-founder Chris Larsen. The price of XRP plummeted nearly 19% since July 21, with a 10% single-day drop on July 23 triggering widespread liquidations. On-chain analyst ZachXBT identified a wallet associated with Larsen transferring 50 million XRP, amounting to roughly $140 million, across multiple exchanges between July 15 and July 24. The largest single withdrawal—42 million XRP—occurred on July 24, intensifying market volatility and selling pressure [1].

The suspected sales coincided with a third-largest XRP liquidation event on Binance in 2025, with 2.3 million XRP positions wiped out in a single day. Darkfost, a market analyst, directly linked these liquidations to the suspected sales, emphasizing the cascading effect on leveraged traders. The rapid sell-off highlighted the sensitivity of XRP to movements linked to key industry figures, as large token transfers exacerbated risk-off sentiment [2].

Broader crypto market corrections amplified the impact. Over the past 24 hours, $957 million in leveraged long positions across all crypto assets were liquidated, underscoring systemic volatility. XRP’s role in this context was distinct due to its association with Larsen’s alleged offloading, which triggered a concentrated sell-off on exchanges [3].

The episode underscores the interplay between on-chain activity and market psychology. Analysts noted that large transfers from high-profile wallets can destabilize asset prices, particularly in leveraged trading environments. The timing of Larsen’s transactions, combined with pre-existing bearish momentum, created a feedback loop of panic selling. Traders and platforms remain vigilant, as wallet tracking and regulatory scrutiny of insider activity intensify in the crypto sector [1].

Source:

[1] [Binance Sees $7.

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

[2] [Darkfost_Coc Twitter Analysis](https://twitter.com/Darkfost_Coc/status/1948482651125412055)

[3] [Cryptohodlpod Twitter Market Update](https://twitter.com/cryptohodlpod/status/1948354032952840572)