XRP Whale Activity Surges 218 Million Coins Transferred in a Day

Whale movement has surged, transferring a total of 218.06 million XRP within a 24-hour period.
Ripple’s CEO, Garlinghouse, is optimistic about the imminent launch of an XRP ETF by 2025.
Once again, there has been a significant increase in whale activity, drawing attention from investors, especially as XRP continues to maintain a price above $0.52. Recent on-chain data reveals that over 218 million coins have been shifted in the past day.
The noticeable trend of whales engaging in buy-and-dump transactions indicates heightened activity, sparking discussions about a potential XRP rally.
Whale Alert’s data shows that a staggering 218.06 million coins were transferred in the last day. Among these transactions, whales withdrew 50.25 million XRP from Binance, with others dispersing substantial amounts to various centralized exchanges.
Interestingly, approximately 167.81 million XRP were sent to Bitstamp, Bitso, and Coinbase exchanges. These transactions have significantly impacted the market momentum from the previous day.
Confidence in XRP’s future prospects is evident as reports suggest that whales who acquired tokens from Binance are continuing to make similar purchases, signaling a positive outlook on the asset’s growth. Furthermore, XRP appears to be resilient against market pressures.
The surge in whale activity coinciding with the buzz surrounding XRP ETFs in major corporations has fueled speculation. Coinglass data reveals a steady increase in XRP futures open interest, currently standing at $666.79 million, while derivatives volume fell by 19.76% to $657.42 million, leading to divergent opinions within the cryptocurrency community about XRP’s future.
According to CoinMarketCap, XRP’s price is approximately $0.5253 at the time of writing, showing a 1.03% decrease from the previous day but a positive 1.15% increase over the past week.
Previously, Ripple CEO Brad Garlinghouse expressed confidence in the forthcoming launch of an XRP ETF, stating that it is “inevitable” by 2025.