Ripple CEO Brad Garlinghouse's recent comments on the imminent launch of an XRP ETF have sent shockwaves through the cryptocurrency market. His optimism has been met with significant activity from whales, who have reshuffled nearly 83 million XRP coins in a show of confidence in the asset's future performance.

Garlinghouse's remarks, which echoed his previous statements at the Consensys 2024 conference, have sparked a flurry of speculation among investors. On-chain data reveals that two whales accumulated 54.35 million XRP coins from Binance, while another whale offloaded 28.75 million coins to Bitstamp. This significant movement of coins suggests that whales are undeterred by the ongoing lawsuit against Ripple by the US SEC and are instead betting on a positive outcome.

The XRP price has responded positively to the news, jumping 1.04% to trade at $0.5251. The token's futures open interest and derivatives volume have also surged, hinting at a broader market uptrend. However, the Relative Strength Index (RSI) remains at 50, indicating that XRP is neither overbought nor oversold, leaving its future price movements uncertain.

In conclusion, the recent activity in the XRP market suggests that whales are confident in the asset's potential, despite the ongoing legal challenges. Garlinghouse's bullish predictions and the significant coin movements have added to the market buzz, leaving investors eagerly awaiting the next developments in the XRP story.