Whale activity has surged, with a total of 218.06 million XRP being moved within a span of 24 hours. Ripple’s CEO, Garlinghouse, is optimistic about the imminent launch of an XRP ETF by 2025.
The recent spike in whale activity has caught the attention of investors, especially with XRP maintaining a steady price above $0.52. Data from on-chain sources reveals that over 218 million coins have been transferred in the past day.
The noticeable trend of whales engaging in buy-and-dump transactions has sparked speculation about a potential XRP boom. Whale Alert, an on-chain transaction tracker, reported a massive movement of 218.06 million XRP within a day. Notably, a significant portion of these coins, totaling 50.25 million XRP, were withdrawn from Binance and transferred to various centralized exchanges.
Interestingly, a large quantity of XRP, amounting to 167.81 million coins, was deposited in exchanges like Bitstamp, Bitso, and Coinbase. These transactions have had a notable impact on the market dynamics.
There is a growing confidence in XRP’s future potential, as evidenced by reports of consistent purchases by XRP whales from Binance. Despite market pressures, XRP appears to be resilient.
The surge in whale activity coincides with the excitement surrounding the potential launch of an XRP ETF by major corporations. Futures open interest for XRP has been steadily increasing, reaching $666.79 million, while derivative volume has slightly decreased to $657.42 million. This has led to varying opinions within the cryptocurrency community regarding XRP’s future prospects.
According to CoinMarketCap, the current price of XRP stands at approximately $0.5253, experiencing a slight decline of 1.03% in the past day but showing a positive trend over the last seven days with a 1.15% increase.
In a previous report, Ripple CEO Brad Garlinghouse expressed confidence in the inevitability of an XRP ETF launch by 2025. For more information on Ripple (XRP), including guides on buying XRP, setting up a Ripple XRP wallet, and checking 24-hour XRP prices, visit the recommended links.