Investor confidence in Ripple remains strong despite legal battles and market fluctuations, as evidenced by recent whale movements in the XRP market. Ripple CEO Brad Garlinghouse’s comments on the possibility of an XRP ETF have sparked speculation and reactions among investors.
Recent reports from Crypto News Flash have shed light on the movement of nearly 83 million XRP coins by large holders, or whales, signaling a surge in interest in the cryptocurrency. This activity, combined with Garlinghouse’s positive statements about an ETF for XRP, indicates both accumulation and liquidation actions taking place in the market.
Amidst the ongoing legal case between Ripple and the US SEC, market reactions have been heightened. Garlinghouse’s affirmations of an upcoming XRP ETF, along with predictions of approval for Ethereum and Bitcoin ETFs in the coming years, have added to the excitement in the cryptocurrency world.
Whale Alert, a prominent on-chain tracker, reported the transfer of 83 million XRP tokens at the time of these developments. A significant holder moved 28.75 million coins to Bitstamp, while two whales acquired 54.35 million tokens from Binance, showcasing their confidence in XRP despite uncertainties.
The whales, identified as rfQ9EcLkU and rarG6FaeYh, have consistently made substantial purchases of XRP, indicating a strong belief in the long-term value of the cryptocurrency. Currently, XRP is trading at around $0.5263, showing a 1.43% increase in the last day, but a 0.29% decline over the past week according to CoinMarketCap.
Prior whale activity during Ripple’s escrow release, involving the movement of 80 million XRP tokens, has set the stage for the recent surge in interest and confidence in XRP. Investors are advised to stay updated on XRP news and prices, as the market continues to react to developments in the cryptocurrency world.