A surge in whale activity has been observed, with a total of 218.06 million XRP being moved within a 24-hour period. Ripple CEO Garlinghouse expresses optimism about the imminent launch of an XRP ETF by 2025.
The recent spike in whale activity has caught the attention of investors, particularly as XRP continues to maintain its position above the $0.52 price level. Data from on-chain transactions reveals that over 218 million coins have been transferred in the past day.
The increased whale activity, characterized by buy-and-dump transactions, has sparked speculation about a potential XRP boom. Whale Alert data shows that a staggering 218.06 million coins have been transferred, with a significant portion coming from Binance and being distributed to various centralized exchanges.
Notably, a large amount of XRP was deposited to Bitstamp, Bitso, and Coinbase exchanges, leading to a decline in the market from the previous day. Reports suggest that whales who acquired tokens from Binance are continuing to make purchases, showing confidence in XRP’s future growth.
The rise in whale activity coincides with the growing interest in XRP ETFs among major businesses, fueling speculation about the cryptocurrency’s potential. Futures open interest for XRP has been steadily increasing, reaching $666.79 million, while derivative volume has dropped by 19.76% to $657.42 million.
Despite a slight decrease in XRP’s price to $0.5253, down by 1.03% in the last day, the cryptocurrency has shown a positive trend over the past week with a 1.15% increase. Garlinghouse’s statement about the inevitability of an XRP ETF by 2025 further reinforces confidence in XRP’s future prospects.