The resurgence in the digital currency ecosystem has sparked a new wave of purchases by XRP whales in the market. At this moment, Whale Alert data shows that at least 25,000,000 XRP left the main South Korean exchange Upbit for an anonymous wallet. This movement indicates that a whale purchase is underway, a sign of broader market recovery.
XRP is attractive at this moment
Much has changed in the crypto industry in the last 48 hours. Since XRP showed oversold signals after its drop to a weekly low of $1.97, the current growth outlook makes the coin look more attractive to whales.
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According to CoinMarketCap data, XRP was trading at $2.592, a 14.61% increase in the last 24 hours. The coin's metrics are bullish, with trading volume increasing more than 528% to over $20 billion.
While many might argue that the Upbit whale could have bought XRP at the peak again, it's worth noting that these large purchases are often long-term.
🚨 🚨 🚨 25,000,000 #XRP (67,301,682 USD) transferred from #Upbit to an unknown wallet https://t.co/zuxVm8DBcs
— Whale Alert (@whale_alert) March 3, 2025
The digital currency received its latest boost when discussions about a strategic crypto reserve in the United States resurfaced over the weekend with XRP.
Despite Peter Schiff's criticism, figures like Cardano founder Charles Hoskinson have backed XRP as an authentic technology worth including in the reserve.
The enthusiasm for the XRP ETF remains a tailwind
Despite XRP's growth and the potential rally ahead, many still consider the latest trend to be artificially inflated. Industry experts believe a correction for Bitcoin and most altcoins is still looming.
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Amid these bearish projections, XRP remains in the spotlight with the potential approval of an exchange-traded fund backed by the asset serving as a tailwind. If the XRP ETF proposal from entities like WisdomTree and Bitwise is approved by the U.S. SEC, it sets the stage for institutional adoption of the coin.
This outlook could fuel a more bullish rally for the coin, regardless of the current long-term negative forecast.
#BinanceAlphaAlert #XRP #MarketRebound