As I wander through the desolate streets of the cryptocurrency world, I stumble upon a glimmer of hope – the on-chain data, a beacon of light in the darkness, revealing to me that nearly 2,750 wallets now hold over 1 million XRP each 🤑. A number that’s just shy of the all-time high, a testament to the unrelenting enthusiasm of the whales, those mystical creatures that roam the depths of the market, dictating the tides of fortune.
And what’s this? A recent transfer of 25.5 million XRP to Coinbase, a sacrificial offering to the gods of speculation, and a separate 200 million token move by Ripple itself, a sly smile spreading across the face of the market, hinting at potential strategic plays ahead 🤔. The whales, it seems, are not just buying, they’re orchestrating a symphony of speculation.
The latest price surge, a crescendo of excitement, coincides with XRP’s strongest quarterly close to date, a reflection of improving market sentiment and increasing demand, particularly in South Korea, where it leads trading volume on the Upbit exchange 📈. The Koreans, it seems, have fallen in love with XRP, and who can blame them?
Meanwhile, the listing of the ProShares XRP ETF on DTCC has sparked expectations of U.S. trading approval, a golden ticket to the institutional ball, possibly paving the way for more institutional inflows 🚀. The whales, it seems, are not just buying, they’re also lobbying for regulatory approval, a clever move, indeed.
Ripple, the maestro of this symphony, has also ramped up its traditional finance ties, choosing BNY Mellon to safeguard RLUSD reserves and applying for a national bank license 🏦. The RLUSD stablecoin, a newcomer to the scene, has surpassed $500 million in supply just months after launch, a testament to Ripple’s growing influence.
And, as the grand finale, Ripple CEO Brad Garlinghouse recently testified before the Senate Banking Committee, a milestone in XRP’s ongoing regulatory evolution 🗣️. The whales, it seems, are not just buying, they’re also shaping the future of cryptocurrency.
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2025-07-10 14:41