Ripple whales are on a buying spree, as evidenced by the recent transactions, signaling an increasing market focus towards XRP. Notably, a top analyst recently highlighted that as the XRP noted a slight retreat, many investors took the opportunity to buy the dip, signaling long-term confidence in the asset. Besides, it also comes as Brad Garlinghouse recently gave an interview with 60 Minutes regarding the crypto industry’s fight for regulatory clarity in the US.
Ripple Whales Buy 120M XRP Sparking Optimism
The XRP has noted a strong rally recently, nearing the $2.9 level this week, amid soaring investors’ optimism. However, like the other traditional as well as digital assets, the surge was not without some pullbacks. For context, the crypto has retreated from the $2.9 level to as low as $2.2 in the last 24 hours, as traders appear to be taking a pause.
However, amid this, top crypto market expert Ali Martinez has highlighted a bullish sign for the crypto. In a recent X post, the analyst said that as the XRP price dropped to the $2.2 level, Ripple whales took the opportunity to buy the dip. He noted that the whales have purchased more than 120 million XRP recently, worth around $288 million.
This massive XRP whales’ buying trend also highlights the growing market confidence in the asset. In addition, it also sparked optimism over further gains ahead, potentially sending the crypto to a new ATH in the coming days.
In addition, the recent interview of Ripple CEO Brad Garlinghouse with 60 Minutes, which is scheduled to air on Sunday, December 8, is expected to fuel further optimism. Garlinghouse, in a recent X post, said that “- the interview I gave with 60 Minutes about crypto’s fight for regulatory clarity in the US will air live this Sunday, Dec 8.”
Will Brad Garlinghouse’s Interview Impact Market Sentiment?
As Brad Garlinghouse confirmed his interview with 60 Minutes, speculations are soaring over its potential implications on XRP as well as the broader crypto market. For context, pro-XRP lawyer Fred Rispoli notes that while the show’s audience, mainly “Boomers”, may not be crypto-savvy, they hold significant financial influence. This has fueled speculations over the upcoming move by the Ripple whales.
Rispoli also said that the interview’s editing and tone could sway market sentiment, leaving many hoping for a positive spin. Considering that, the interview’s outcome is eagerly awaited by the crypto community.
Meanwhile, this also comes amid a time when the broader market is expecting pro-crypto regulations in the US under Donald Trump’s presidency. Besides, the resignation announcement of the US SEC Chair Gary Gensler, whom many deem as an anti-crypto regulator, has added to the sentiment.
However, the recent US SEC appointment of its lead attorney in the Ripple Vs SEC lawsuit as the Chief Litigation Counsel has weighed on the sentiment. Despite that, XRP price today was up more than 6% and exchanged hands at $2.44. Its one-day trading volume dropped 10% to $12 billion, while XRP Futures Open Interest rose 6% to $3.74 billion.
Considering all these aspects, the future momentum for XRP looks bright. In addition, top crypto market analyst EGRAG CRYPTO has recently shared a bold forecast for Ripple’s native crypto. In a recent X post, the analyst hints at an XRP price rally to $27 ahead, which could pave the way for the crypto to hit $130 in the coming days.
The post Ripple Whales Buy 120M XRP As Garlinghouse Speaks On Crypto Regulatory Clarity appeared first on CoinGape.
