Whale Activity and Brad Garlinghouse’s Comments Drive XRP Market Amid Legal Battles and Speculation
Recent movements in the whale community are shedding light on investor confidence in Ripple amidst ongoing legal battles and market volatility. Ripple CEO Brad Garlinghouse’s comments on the potential for an XRP exchange-traded fund (ETF) have sparked speculation and market reactions within the cryptocurrency world.
Reports from Crypto News Flash have revealed that nearly 83 million XRP coins have been transferred by major holders, or whales, signaling a surge in interest and activity. These movements, along with Garlinghouse’s positive outlook on an XRP ETF, indicate both accumulation and liquidation strategies at play.
Market reactions have been amplified, particularly in light of the legal case brought against Ripple by the US Securities and Exchange Commission (SEC). Garlinghouse’s recent statements on Fox Business reiterating the possibility of XRP, Solana, and other cryptocurrency ETFs being approved have further fueled market speculation. An analyst’s prediction of potential ETF approvals for Ethereum (ETH) and Bitcoin (BTC) in 2025 also supports this optimism.
According to on-chain tracker Whale Alert, 83 million XRP tokens were recently shifted, with a significant holder transferring 28.75 million coins to Bitstamp, while two whales acquired 54.35 million tokens from Binance. This activity underscores the whales’ confidence in XRP despite the uncertainties in the legal and market landscape.
Whales rfQ9EcLkU and rarG6FaeYh, who acquired XRP through Binance, have consistently made substantial purchases, indicating a strong belief in XRP’s long-term value. Currently priced at around $0.5263, XRP has seen a 1.43% increase in the last day, although CoinMarketCap data shows a 0.29% decrease over the past week.
Previous reports from CNF have highlighted the movement of 80 million XRP tokens during Ripple’s escrow release, providing context to the recent whale activity. For more information on Ripple (XRP), including purchasing guides, wallet tutorials, and price updates, visit Crypto News Flash.