Whale movement has surged, with 218.06 million XRP being transferred within a day. Ripple’s CEO, Brad Garlinghouse, is optimistic about the launch of an XRP ETF by 2025. The recent spike in whale activity has caught the attention of investors, particularly as XRP continues to hold steady above the $0.52 mark. Data from on-chain sources reveals that over 218 million XRP coins have been shifted in the past 24 hours.
The pattern of whales engaging in buy-and-dump transactions has become more apparent, fueling speculation about a potential XRP surge. Whale Alert, a transaction tracking platform, reported a massive transfer of 218.06 million coins, with a significant portion coming from Binance. These whales have been moving substantial amounts to different centralized exchanges like Bitstamp, Bitso, and Coinbase, leading to a notable decrease in XRP accumulation.
Interestingly, reports suggest that whales who acquired XRP from Binance are consistently making similar purchases, signaling growing confidence in the digital asset’s future. Despite facing market pressure, XRP seems to be resilient, absorbing the impact of the increased whale activity. The surge in whale movement coincides with the excitement surrounding XRP ETFs in major corporations, sparking further speculation.
Furthermore, data from Coinglass indicates a rise in XRP futures open interest, currently standing at $666.79 million, while derivatives volume has declined by 19.76% to $657.42 million. This disparity has led to varying opinions within the cryptocurrency community regarding XRP’s future prospects.
As per CoinMarketCap, the current price of XRP is around $0.5253, showing a slight decrease of 1.03% in the last 24 hours but a positive trend of 1.15% over the past week. In a previous report, Ripple CEO Brad Garlinghouse expressed confidence in the inevitability of an XRP ETF introduction by 2025.
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