Ripple Whales on the Move: XRP Price Targets $8 Amid Crypto Policy Shift

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Dear old Ripple whales have been causing quite a stir in the crypto community, as they’ve been moving around a whopping 430 million XRP within hours. Meanwhile, Ripple’s top banana, Brad Garlinghouse, has been expressing his optimism about a shift in the U.S. crypto regulation landscape, hinting at a new crypto policy approach.

Ripple Whales Transfer Over 430 Million XRP

Blockchain tracking service Whale Alert has reported a series of large XRP transfers, totaling over 430 million XRP. The transactions included 300 million XRP transferred from Ripple to an unknown wallet, followed by another 90 million XRP moved between unidentified wallets. Additionally, 40.8 million XRP were transferred from Coincheck to an unknown address.

These movements have drawn attention, as whale transactions often indicate strategic shifts by major holders.

While the purpose of these Ripple whale transfers remains unclear, large transactions can impact market liquidity and investor sentiment. The timing of these transfers coincides with renewed discussions on regulatory developments surrounding Ripple and XRP.

Brad Garlinghouse Optimistic on Crypto Policy Changes

Ripple CEO Brad Garlinghouse shared his perspective on recent legislative efforts in Washington, D.C. He noted that there is a growing bipartisan push for clearer regulatory frameworks for cryptocurrencies.

“There is finally an incredible opportunity to advance meaningful bipartisan legislation,” Garlinghouse stated, highlighting meetings with lawmakers including Senator Tim Scott and Representatives Ritchie Torres, William Timmons, and French Hill.

Brad Garlinghouse has previously criticized the lack of regulatory clarity in the U.S., arguing that it has driven crypto innovation overseas. His latest remarks suggest that policymakers may be shifting towards a more constructive stance on digital assets. This follows the Securities and Exchange Commission’s (SEC) acknowledgment of a 19b-4 filing related to a potential XRP exchange-traded fund (ETF).

Ripple SEC Lawsuit Settlement Speculation Grows

A U.S. federal judge has paused the SEC’s lawsuit against Binance for 60 days after both parties requested time to assess regulatory developments. This move has fueled speculation about the possibility of a Ripple-SEC settlement, as per ETF store president Nate Geraci as crypto regulatory agencies appear to be re-evaluating their approach to crypto-related lawsuits.

The pause in the Binance case comes as the SEC faces increasing pressure over its stance on digital assets.

The decision to acknowledge XRP-related ETF filings further suggests a potential shift in how the agency handles crypto-related regulations. Market analysts believe this could lead to a resolution in the ongoing legal battle between Ripple and the SEC.

XRP Price Targets $8 Amid Market Optimism

Amid Ripple whale moves, XRP’s price has remained relatively stable despite the large transactions, with traders closely watching developments.

Analysts suggest that if regulatory clarity improves and an XRP ETF is approved, the asset could enter a new price discovery phase.

Some market watchers predict a potential XRP price rally to $8, which would mark a new all-time high for XRP. Community sentiment remains optimistic, with many XRP holders expressing confidence in the cryptocurrency’s long-term potential.

So, there you have it, folks! Ripple whales are on the move, and XRP’s price is targeting $8 amidst a crypto policy shift. It’s enough to make even the most stoic investor sit up and take notice. 🐳🚀

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2025-02-14 09:29