Editor's PiCK
"Whales Accumulating Ripple in Large Quantities"... Reflecting ETF Expectations
Summary
- It has been revealed that whales are leading the price increase by accumulating Ripple in large quantities.
- The rise in Ripple's price is interpreted as reflecting expectations for an ETF listing.
- There is an expectation for resolution of legal risks, with the possibility that the legal dispute between Ripple and the SEC might end favorably for Ripple.
It appears that whales are purchasing Ripple in large quantities.
The cryptocurrency analysis firm Santiment stated on the 15th via X, "Ripple has reached $2.69 for the first time since the 17th of last month," adding, "This price is supported by the continuous large-scale accumulation by whales holding between 1 million and 10 million Ripple." Santiment noted, "These whales have purchased $3.8 billion worth of Ripple since November 12 last year," and "The amount of Ripple held by whales has increased by more than 37% compared to two months ago."
The background of Ripple's surge seems to be the anticipation of an ETF listing. Sean Dawson, head of research at the on-chain derivatives exchange Derive, mentioned in an interview with Cointelegraph that Ripple's bullish trend "might be due to the possibility of a Ripple ETF being listed within the year."
Expectations for the resolution of Ripple's legal risks are also growing. Dawson predicted, "The legal dispute between Ripple and the SEC might end favorably for Ripple this year."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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