Vincent Van Code, a popular crypto figure on X, recently highlighted a significant XRP trade on Binance, where an order of over 2.1 million XRP tokens was executed. Van Code has an interesting take on the transaction, attributing this activity to institutional investors.
A very larger order of 2.1M #XRP just executed on #Binance.
These are not whales. They are institutions buying. pic.twitter.com/hdR7x0Dl5P
— Vincent Van Code (@vincent_vancode) December 1, 2024
This sentiment comes as XRP reaches a major milestone, recently crossing the $2 price point for the first time since 2018. The price movement reflects heightened interest in XRP, particularly as institutional players begin to recognize its potential as both an investment and a tool for blockchain-based financial services.
When asked by a community member why the institutions waited this long to invest in XRP, Van Code remarked that institutions are now stepping in due to increased regulatory clarity, stating they feel safe from potential actions by Gary Gensler and the U.S. Securities and Exchange Commission (SEC).
The Shifting Regulatory Landscape
XRP has been smashing through milestones since Donald Trump won the U.S. Presidential election. This rally intensified when Gensler, the SEC’s current Chair, hinted at a resignation. Gensler has led an anti-crypto war in the U.S. for years, and this caused institutions to stay away from cryptocurrencies like XRP and slowed the advancement of the U.S. crypto space.
However, Trump supports the crypto market and has promised to make the U.S. the crypto capital of the world. Gensler has revealed that he will step down from his role on January 20, and anticipation of the Trump administration’s pro-crypto policies and potential crypto-friendly SEC Chair is already sending the market to new heights.
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XRP’s Rise Among Institutional Investors
Institutions are returning to XRP, as multiple asset managers have recently filed applications to launch ETFs for XRP, and the WisdomTree XRP ETP recently debuted in Europe.
These developments show a growing appetite for XRP among institutional investors, who view it as a versatile asset with long-term potential. The institutional interest is expected to intensify as the old administration transitions out of office.
Ripple, the company behind XRP, has also been key in driving adoption through its blockchain-powered solutions. By partnering with financial institutions globally, Ripple is positioning XRP as a practical tool for efficient and cost-effective cross-border payments.
This dual utility as a trading asset and a payment solution has made XRP increasingly attractive to institutional players, and this transaction might just be the first of many as XRP rises.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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