XRP's price dropped 10% from $3.55 to $3.09 after Ripple co-founder Chris Larsen transferred $175 million worth of XRP. Between July 17 and July 23, 2025, Larsen moved 50 million XRP to four addresses, with $140 million reaching centralized exchanges. The transfers have sparked controversy, with some in the crypto community accusing Larsen of market manipulation, while others see it as part of Ripple's decentralization strategy. Neither Larsen nor Ripple has commented on the transactions, raising concerns about transparency in the cryptocurrency market.