Whale movement has surged, with a transfer of 218.06 million XRP in the span of 24 hours. Ripple’s CEO, Garlinghouse, remains 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 position above the $0.52 price mark. Data from on-chain sources reveals that over 218 million coins have been shifted within the past day.
The noticeable trend of whales engaging in buy-and-dump transactions indicates a heightened level of activity, sparking discussions about a potential XRP surge. Whale Alert’s data confirms the movement of 218.06 million coins within a day, with a significant portion coming from Binance and being distributed to various centralized exchanges.
Of particular interest is the transfer of 167.81 million XRP to exchanges like Bitstamp, Bitso, and Coinbase, leading to a notable impact on the market. Reports suggest that whales who initially bought XRP from Binance continue to make similar purchases, showcasing a growing confidence in the asset’s future.
The surge in whale activity coinciding with the buzz around an XRP ETF launch has fueled speculation. Despite a rise in futures open interest for XRP, reaching $666.79 million, there has been a decline in derivatives volume, causing mixed opinions within the cryptocurrency community about XRP’s future prospects.
At the time of reporting, XRP is trading at around $0.5253, experiencing a slight dip of 1.03% in the past day but showing a positive trend over the previous week with a 1.15% increase. Garlinghouse’s statement about the inevitability of an XRP ETF by 2025 adds to the growing confidence in XRP’s potential growth.