Darkfost2025-07-24

XRP longs liquidated on Binance amid suspected sales by Ripple Co-Founder

As allegations emerge against Chris Larsen, the co-founder of Ripple, claiming that he is currently selling significant amounts of XRP, long positions on XRP are being massively liquidated on Binance. According to an investigation by ZachXBT, a well-known on-chain investigator, a wallet linked to the Ripple co-founder allegedly moved 50 million XRP, with around $140 million reportedly sent to various exchanges. Since July 15, outflows from this wallet have accelerated. On just yesterday’s date, approximately 42 million XRP were withdrawn from the suspected wallet, a substantial amount, though still half the size of the outflows recorded on July 18. Notably, since July 21, XRP has dropped by nearly 19%, including a sharp 10% drop on July 23 alone. This sudden drop triggered a wave of long liquidations on Binance, wiping out roughly 2.3 million XRP, equivalent to around $7.3 million. This event marks the third-largest XRP liquidation on Binance since the beginning of the year.