The post Ripple Whale Moves $63M As XRP Tops List for Spot ETF Approval appeared on BitcoinEthereumNews.com.

A large Ripple whale has moved 29,532,534 XRP, valued at $63.81 million, from an unknown wallet to Coinbase. This Ripple whale transfer comes at a time when XRP is making waves in the cryptocurrency market, positioning itself as one of the top candidates for a U.S. spot ETF approval. XRP’s increasing liquidity and recent developments have placed it in direct competition with Solana (SOL) for ETF approval, with analysts predicting XRP may secure approval sooner than its rivals. XRP’s Growing Liquidity Boosts ETF Prospects XRP has shown a marked improvement in liquidity over the past few months, positioning itself as a strong contender for a U.S. spot ETF. A study of market depth done by Kaiko Indices shows that XRP and Solana have the deepest 1% market depth on vetted exchanges. XRP’s liquidity has increased since late 2024, outperforming that of Solana and even risen to two times that of Cardano’s ADA. Several events have enhanced XRP’s liquidity, such as Teucrium’s launching of a 2x XRP ETF in the recent past. This leveraged product tracks European ETPs and swap agreements, offering double the daily returns of XRP. On the launch date, it traded above $5 million, becoming the best-performing fund for the Teucrium Fund Company. Such momentum brings XRP the vital support for its objective to establish a place in the approval process for the U.S. spot ETF. Despite the absence of a robust futures market, as seen in BTC, XRP has gradually made an increased impression in the US spot market. This triggered the token’s market share to go to the highest level since the SEC lawsuit in 2021, which triggered multiple delistings. In this regard, Solana’s market share has decreased to 16% from the 25-30% recorded in 2022. According to analysts, XRP continues to trade significantly in the…

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Filed under: News - @ April 15, 2025 9:21 pm