Gigantic Purchase of 900 Million XRP in a Single Month: Insights from Ripple's Major Players?
Spotlight on the XRP Looting Spree
CliffsNotes- Whales have accumulated a whopping $2 billion worth of XRP within the last month.- Could this be a prelude to an impending XRP surge? With the XRP ETF rumors and Ripple-Circle whispers picking up steam, it's a question worth pondering.
Whales: Gone Fishing for XRP
In recent times, Ripple whales have been a busy bunch, stockpiling XRP tokens like there's no tomorrow. Ali Martinez recently disclosed that mega investors, those hoarding between 10 million and 100 million coins, have gobbled up close to 900 million XRP (valued at roughly $1.9 billion at present rates) over the past month. It's also worth noting that this group of voracious investors now holds approximately 7.77 billion tokens, equating to a staggering 13% of XRP's total circulating supply, or more than $17 billion.
Now, it's an oft-heard theory that whales sometimes possess insider information or early access to news that could potentially influence the price of a digital asset. In the past week or so, there's been a flurry of speculation regarding a possible Ripple-Circle acquisition.
As per a Bloomberg report, Ripple extended a takeover offer valued between $4 billion and $5 billion, only to have it rejected. However, XRP enthusiasts kept the rumor mill churning with JackTheRippler pointing to a recent article claiming that Ripple's CEO Brad Garlinghouse proposed a staggering $20 billion offer. Alas, neither Ripple nor Circle has provided any official confirmation.
Plotting their Move?
Another reason for whales increasing their XRP holdings could be the increasing probability of a U.S.-approved spot XRP ETF. After all, such a financial vehicle would offer investors a simplified route to invest in XRP, potentially causing demand to surge and values to soar.
Buying a spot ETF is as simple as purchasing stocks, with all transactions facilitated through an authorized brokerage account. Investors acquire shares in the fund, which then holds and stores the actual cryptocurrency on their behalf.
Mere days ago, Eric Balchunas (Senior ETF Analyst for Bloomberg) estimated an 85% likelihood that such a product would launch sometime in 2025. Shortly thereafter, he hinted that an approval might take place during the summer.
Looking at Polymarket, while the approval odds remain high at 78%, they plummet to 39% if the deadline is extended to July 31. Some of the major players eager to introduce the first U.S.-based spot XRP ETF include Grayscale, Franklin Templeton, 21Shares, Wisdom Tree, and more. For a comprehensive look at the Ripple ETF scene, please check out our dedicated article here).
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- Highway to 2025: The staggering XRP holdings of whales suggest a possible surge could be on the horizon, given the high likelihood of a U.S.-approved spot XRP ETF in 2025.
- Eyes on the Prize: With an 85% chance of an XRP ETF launch in 2025, as suggested by Eric Balchunas of Bloomberg, mega investors are loading up on XRP, seeking to capitalize on potential surging demand and soaring values.
- Crypto Chronicles: Recent rumors of a potential Ripple-Circle acquisition have sent ripples through the XRP community, leaving many to wonder whether this inside information is driving whale investment.
- The XRP Game has Changed: As whales gobble up large quantities of XRP, the balance of power in this cryptocurrency's market could significantly shift, making it essential for investors to keep a close eye on the movements of these influential players.
