MEXCXRP Whale Accumulate 20M Coins Amid Recent Dip, What’s Next?
Highlights
- An XRP whale bagged 20 million coins sparking crypto market speculations.
- The accumulation comes as XRP price recorded marginal decline and hovered around the $2.5 mark.
- According to betting markets data, the XRP ETF is likely to launch in 2025.
- The recent market trends hints at a bullish momentum ahead for both Ripple and XRP.
In the latest XRP news, a Ripple whale has caught the investors’ eye with his latest buying move. According to reports, the Ripple whale has accumulated 20 million coins from the Gemini exchange, sparking discussions over the potential reason behind the move. Besides, it also comes as the XRP price recorded a marginal decline recently and hovered near the $2.60 mark.
Ripple Whale Buys 20M Coins; Made Headlines In XRP News Thread
A Ripple whale has made headlines in the XRP news thread with his latest buying move. According to leading on-chain transaction tracker, Whale Alert data, an XRP whale has accumulated 20 million coins, valued at around $50.65 million from Gemini exchange. This move has sparked intense speculation within the XRP community.
However, the reasons behind this substantial acquisition remain unclear, fueling market discussions and theories. One possible explanation is that this could be a strategic move to tighten the supply of XRP on exchanges, potentially stirring up market demand.
However, market participants are advised to exercise caution, as this significant accumulation could lead to increased volatility due to shifting liquidity. As the situation unfolds, all eyes will be on the XRP price, waiting to see how this development impacts the cryptocurrency’s value and overall market dynamics.
Despite that, the recent developments, as discussed below, hint at a strong recovery ahead for Ripple’s native crypto.
XRP ETF Launch Speculations
The discussions over a potential XRP ETF launch in the US have fueled market optimism lately. Besides, the recent developments also indicate that the approval is likely in 2025, which could boost the crypto’s appeal to investors. Notably, many have compared this development with the BTC ETF approval, which has helped Bitcoin price reach a new ATH.
Meanwhile, the anticipation further soared as the US SEC acknowledged the third ETF filing recently. According to reports, the US SEC has acknowledged Bitwise’s XRP ETF filing recently, following the acknowledgment of Grayscale and 21Shares’ filings.
Having said that, the market anticipation soared over approval from the regulators soon. Following these recent developments, Polymarket data showed that there is a 78% chance of a “Ripple ETF” approval in 2025.
Regulatory Factors Impact Market Sentiment
The pro-crypto sentiment in the US under President Donald Trump has further bolstered market sentiment. Besides, the close tie between the Ripple executives and the US administration has sparked discussions over a potential US XRP Reserve in the coming days.
Having said that, Donald Trump’s recent mention of Ripple and XRP on the Truth Social platform has fueled speculations. A recent Ripple price analysis hints that this development could sentiment the crypto to $100 this year.
What Lies Ahead For Ripple & XRP?
Amid the hovering positive sentiments in the market, XRP price today added about 1% to $2.6. Its one-day trading volume also stayed near the flatline at $4.82 billion, indicating muted activity in the market. However, the latest Ripple whale accumulation has gained notable traction from the crypto market participants.
The Relative Strength Index of the token also stayed at the 45 mark, indicating a neutral sentiment in the market. Despite that, the market participants remain optimistic over an impressive rally ahead for the asset, potentially sending it to a new ATH.
However, it’s worth noting that the crypto has been consolidating around the $2.5 mark recently. Also, it has recorded a monthly decline of 22%, falling from the $3.3 mark. Besides, in a recent analysis, market analyst CrediBULL Crypto said that the crypto might face a correction to $1.77 before a potential rebound.
So, considering all these aspects, it appears that the positive market trends could boost both Ripple and XRP’s appeal to market participants. Although concerns loom over a short-term pullback, the ongoing market trends can help trigger a massive rally in the crypto’s price ahead.
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