Whales React to Ripple CEO’s ETF Remarks

• Whale movements highlight investor confidence amid Ripple’s legal battles and market fluctuations.
• Brad Garlinghouse’s ETF comments spark speculation and market reactions for XRP.

The cryptocurrency world is quite optimistic after Ripple CEO Brad Garlinghouse made some remarks about an XRP ETF recently, following reports from Crypto News Flash. Investors are abuzz with the noteworthy movements of almost 83 million XRP coins by big holders, or whales, which corresponds with this spike in interest.

Whale Activity Amid Market Speculations

Up to 83 million XRP currencies were moved between wallets and exchanges, according to on-chain statistics. Together with Garlinghouse’s optimistic remarks about the possibility of an ETF soon, these changes are obvious indications of both accumulation and liquidation actions.

Reactions have been sharpened in the market, which is already sensitive because of the current case against Ripple by the US SEC.

Garlinghouse reaffirmed in a recent Fox Business interview that XRP, Solana, and other cryptocurrency ETFs are a given, echoing remarks made at the Consensys 2024 conference. Also, an analyst who predicts the approval of Ethereum (ETH) and Bitcoin (BTC) ETFs in 2025 lends support to this viewpoint.

Well-known on-chain tracker Whale Alert reports that 83 million XRP tokens were shuffled at the moment this news surfaced. More precisely, a major holding offloaded 28.75 million coins to Bitstamp, and two whales collected 54.35 million tokens from Binance.

This behavior highlights how confident the whales are in XRP in spite of the legal and market uncertainty.

Whales’ Confidence in XRP

The whales known as rfQ9EcLkU and rarG6FaeYh, who obtained XRP via Binance, have previously made comparable, sizable purchases. This steady growth suggests a great conviction in XRP’s long-term worth.

As of right now, XRP is selling at about $0.5263, up 1.43% in the last day, while CoinMarketCap data show that it has declined 0.29% during the previous week.

Meanwhile, CNF previously provided background to the present whale activity by highlighting the movement of 80 million XRP tokens during Ripple’s escrow release.

Recommended for you: