Ripple has returned to the spotlight following the transfer of 29.5 million XRP worth over 64 million dollars to Coinbase by one of the whales (large investors), indicating a potential resurgence in buying momentum. The transaction was confirmed by Whale Alert, a platform specialized in tracking blockchain transactions, which increases the excitement surrounding Ripple's near-term future.
This optimistic outlook is based on data from Santiment indicating that whale wallets holding between 10-100 million XRP have accumulated over 200 million in just one week, as this pattern of accumulation—especially ahead of an anticipated market catalyst—often heralds strong upward movements.
What fuels the positive market sentiment is the anticipated announcement of the ProShares Ripple ETF launch on May 14, with Polymarket betting data indicating an 80% chance of approval for the mentioned fund, heightening institutional interest in this digital asset. Notably, 23% of crypto investors in the United States own XRP, supporting its growing popularity.
Key Points:
Monitoring the transfer of 64 million dollars worth of XRP by one of the whales to Coinbase.
Whale wallets added more than 200 million XRP over the last 7 days.
The likelihood of approval for the XRP ETF has risen to 80% ahead of the decision date on May 14.
XRP price stabilizes above an important support level, awaiting a breakout opportunity.
Ripple is currently trading near $2.19 after temporarily dropping to $2.15 last week, resulting in speculative trades on price increases worth approximately $14 million, which appears to be a temporary market fluctuation rather than a permanent decline. The price remains above the 20-day simple moving average (SMA-20) at $2.167, representing the nearest support level.
