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XRP whale just moved over $60m amid ETF hype

XRP has recorded a notable large transaction after an unidentified whale moved 29.5 million tokens, worth approximately $63.8 million, to cryptocurrency exchange Coinbase . On-chain analysts often interpret such large transfers to exchanges as a bearish signal since they typically suggest the holder may be preparing to sell. Large inflows to centralized exchanges can increase short-term selling pressure, which may negatively impact prices. The April 15 transaction comes amid growing hype around a potential spot XRP exchange-traded fund ( ETF ) approval. XRP whale transfer to Coinbase. Source: Whale Alert XRP ETF hype Data indicates that XRP has taken the lead in the race for a spot cryptocurrency ETF. The token currently has at least 10 active ETF filings, more than any other altcoin, including Solana, Litecoin, and Dogecoin. Among the names of XRP ETF applications are Bitwise, ProShares, Grayscale, WisdomTree, Franklin Templeton, and Hashdex. Live crypto ETF applications. Source: Kaiko The flurry of filings marks a key milestone for XRP, which will likely attract institutional capital if approved by the SEC. The regulator has until mid-October to decide on the product. Notably, the odds of such a product being approved have received a major boost as the long-standing SEC vs. Ripple case nears its conclusion . Meanwhile, Teucrium recently boosted XRP’s liquidity by launching a 2x leveraged XRP ETF , which tracks European ETPs and swaps to deliver twice XRP’s daily returns. It became Teucrium’s top-performing fund, trading over $5 million on launch day, adding crucial momentum to XRP’s push for U.S. spot ETF approval. XRP price analysis As of press time, XRP was trading at $2.13, gaining about 0.6% in the last 24 hours. Over the past week, the token has rallied more than 12%. XRP seven-day price chart. Source: Finbold XRP’s price is currently caught between a short-term bearish bias, trading below its 50-day simple moving average ( SMA ), and a long-term bullish structure, holding above its 200-day SMA. Combined with neutral market sentiment, suggesting the asset may see sideways or slightly downward movement unless new bullish catalysts, such as ETF news, emerge to reignite momentum. Featured image via Shutterstock The post XRP whale just moved over $60m amid ETF hype appeared first on Finbold . CoinOtag

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Applied Digital Tumbles 30% on Revenue Miss; Plans Selling Cloud Computing Unit

Shares of Applied Digital (APLD), a Texas bitcoin mining and data center firm, dropped sharply on Tuesday after the digital infrastructure provider reported quarterly results that fell short of Wall Street expectations. The company, which has pivoted from its crypto mining roots to focus on high-performance computing (HPC) and AI-focused data centers, reported revenue of $52.9 million for the quarter ending February 28, 2025—a 22% increase from a year earlier, but well below analysts` consensus estimate of $64.5 million, a nearly 18% miss. Despite the top-line miss, Applied Digital reported a non-GAAP net loss of $0.08 per share, beating analysts` expectations of a $0.10 per-share loss. However, adjusted EBITDA came in at $10 million, a 41% miss compared to the expected $16.9 million, signaling continued margin pressure amid heavy infrastructure investments.APLD shares plunged as much as 30% from the Monday close, and were trading around $3.90 in the early hours of the session.A significant drag came from the company`s Cloud Services unit, which posted a sharp sequential revenue decline of 36%, falling from $27.7 million in the prior quarter to $17.8 million. Applied Digital attributed the drop to a shift from single-tenant contracts to a multi-tenant, on-demand GPU model—a transition that faced initial technical challenges. Notably, the company`s board of directors approved on April 10 a plan to sell the Cloud Services business entirely, aiming to refocus on its core HPC data center operations and potentially position itself as a real estate investment trust (REIT) in the future. “We believe separating the Cloud Services business from our data center operations better serves the long-term interests of our shareholders,” said CEO Wes Cummins on the company’s earnings call. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk’s full AI Policy . CoinOtag