Investor confidence in Ripple is on full display with recent whale movements, despite the ongoing legal battles and market fluctuations. Brad Garlinghouse’s comments regarding a possible XRP ETF have triggered speculation and reactions within the market.
Reports from Crypto News Flash have indicated that nearly 83 million XRP coins have been transferred by large holders, or whales, signaling a surge in interest in the cryptocurrency. These movements, along with Garlinghouse’s positive statements about an ETF for XRP, are clear indicators of both accumulation and liquidation activities.
The market has been particularly sensitive due to the SEC’s case against Ripple, adding to the significance of these developments. Garlinghouse reiterated his optimism about XRP ETFs in a recent interview with Fox Business, echoing similar sentiments expressed at the Consensys 2024 conference. Furthermore, an analyst has predicted the approval of Ethereum and Bitcoin ETFs in 2025, further supporting the potential for XRP ETFs.
Whale Alert, a well-known on-chain tracker, reported the transfer of 83 million XRP tokens, with a major holder selling 28.75 million coins to Bitstamp and two whales acquiring 54.35 million tokens from Binance. This activity underscores the confidence that whales have in XRP despite the uncertainties in the legal and market landscape.
The whales, identified as rfQ9EcLkU and rarG6FaeYh, who acquired XRP from Binance, have consistently made significant purchases, indicating a strong belief in the long-term value of XRP. Currently, XRP is trading at around $0.5263, showing a 1.43% increase in the past day, although it has experienced a 0.29% decline over the previous week, according to CoinMarketCap data.
In a separate development, 80 million XRP tokens were moved during Ripple’s escrow release, providing additional context to the recent whale activity. For more information on Ripple (XRP), including guides on buying XRP, setting up a Ripple XRP wallet, and checking the latest price trends, visit CNF for more news and updates on Ripple (XRP).