Whale movement has surged, with a total of 218.06 million XRP transferred in the 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 piqued investor interest, especially with XRP maintaining a steady price above $0.52. On-chain data reveals that over 218 million coins have been shifted within the last day.
The noticeable pattern of whales engaging in buy-and-dump transactions indicates a surge in activity, sparking speculation of a potential XRP surge. Whale Alert data shows that a staggering 218.06 million coins were moved, with 50.25 million XRP taken from Binance and significant amounts transferred to various centralized exchanges.
An interesting observation is that 167.81 million XRP were sent to Bitstamp, Bitso, and Coinbase exchanges, resulting in a notable decline from the previous day’s accumulation.
There is a growing confidence in XRP’s future potential, as reports suggest that whales who acquired tokens from Binance are continuing to make bullish purchases, signaling optimism for the asset’s growth. Despite facing market supply pressure, XRP appears to be resilient.
The surge in whale activity coincides with the increasing interest in XRP ETFs among major corporations, fueling speculation. Coinglass data indicates a steady rise in XRP futures open interest, reaching $666.79 million, while derivatives volume has slightly decreased to $657.42 million, leading to mixed opinions within the cryptocurrency community regarding XRP’s future prospects.
As of the latest data from CoinMarketCap, XRP is trading at around $0.5253, experiencing a 1.03% decline in the previous day but showing a positive trend over the past seven days with a 1.15% increase.
Earlier, CNF reported on Ripple CEO Brad Garlinghouse’s expressed confidence in the inevitable introduction of an XRP ETF by 2025.
For more information on Ripple (XRP), check out our guides on buying XRP, setting up an XRP wallet, and monitoring 24-hour price changes. Stay updated on the latest Ripple news and learn more about the potential of XRP as a digital asset.