Investor confidence is on display as whales make significant moves in the Ripple market amidst legal battles and market fluctuations. Ripple CEO Brad Garlinghouse’s recent comments on a potential XRP ETF have sparked speculation and reactions within the cryptocurrency world.
According to reports from Crypto News Flash, the movement of nearly 83 million XRP coins by large holders, or whales, coincides with Garlinghouse’s positive statements regarding the possibility of an ETF for XRP. This activity, along with on-chain data showing the transfer of XRP between wallets and exchanges, suggests a mix of accumulation and liquidation strategies.
The market has reacted sharply to these developments, particularly in light of the ongoing legal case between Ripple and the US SEC. Despite this uncertainty, Garlinghouse remains optimistic, reiterating in a recent Fox Business interview his belief in the inevitability of XRP, Solana, and other cryptocurrency ETFs. Analysts also foresee the approval of Ethereum and Bitcoin ETFs in the near future, further supporting this outlook.
Notably, Whale Alert has reported the movement of 83 million XRP tokens, with a major holder transferring 28.75 million coins to Bitstamp, while two whales acquired 54.35 million tokens from Binance. This activity underscores the confidence that whales have in XRP, despite the current challenges facing the market.
Whales such as rfQ9EcLkU and rarG6FaeYh, who have made significant purchases of XRP via Binance, continue to demonstrate their conviction in the long-term value of the cryptocurrency. At present, XRP is trading at around $0.5263, up 1.43% in the last day, although CoinMarketCap data shows a slight decline of 0.29% over the past week.
Additionally, previous whale activity, including the movement of 80 million XRP tokens during Ripple’s escrow release, provides further context to the current market dynamics. For those interested in Ripple, a guide on buying XRP, a tutorial on Ripple XRP wallets, and real-time price updates are recommended. Stay informed with the latest news on Ripple (XRP) to make informed investment decisions.