Investor confidence in Ripple is on display as whales make significant movements amidst legal battles and market volatility. Speculation and reactions in the market have been sparked by comments from Ripple CEO Brad Garlinghouse regarding a potential XRP ETF, as reported by Crypto News Flash.
The transfer of 83 million XRP coins between wallets and exchanges, combined with Garlinghouse’s positive statements about an ETF, indicates both accumulation and liquidation activity. These movements are particularly noteworthy given the ongoing legal case against Ripple by the US SEC.
Garlinghouse’s recent statements on Fox Business, where he expressed confidence in the approval of XRP, Solana, and other cryptocurrency ETFs, have further fueled market speculation. An analyst’s prediction of Ethereum and Bitcoin ETF approvals in 2025 adds credibility to this outlook.
Whale Alert, a prominent on-chain tracker, reported the transfer of 83 million XRP tokens, with a major holder sending 28.75 million coins to Bitstamp and two whales acquiring 54.35 million tokens from Binance. This activity underscores the whales’ unwavering confidence in XRP despite the uncertainties in the legal and market landscape.
Whales, such as rfQ9EcLkU and rarG6FaeYh, who have been consistently purchasing XRP through Binance, demonstrate a strong belief in the long-term value of the cryptocurrency. Currently trading at approximately $0.5263, XRP has seen a 1.43% increase in the last day but a 0.29% decrease over the past week, according to CoinMarketCap data.
The recent whale movements follow the release of 80 million XRP tokens from Ripple’s escrow, as highlighted by CNF. For more information on Ripple and XRP, check out our guides and news updates.