XRP Whales Accumulate Amidst Market Volatility

XRP is demonstrating resilience after experiencing recent price declines, outperforming many other major cryptocurrencies.

According to data, XRP's price rose by over 4% in a recent 24-hour period, trading around $2.38 after hitting a low of $2.25 earlier in the month.

Whale Activity Drives Recovery

Blockchain analytics firm Santiment indicates that XRP's recovery correlates with a significant increase in the number of mid-to-large-sized XRP holders.

The number of wallets holding at least 10,000 XRP has reached a record high, approximately 317,500. This suggests investors are using price dips as opportunities to accumulate more XRP, rather than selling.

This accumulation pattern is similar to trends observed since November 2024.

Simultaneously, open interest in XRP futures has decreased to $3.49 billion, the lowest it has been since June. This decline in leveraged positions may indicate a shift towards more conservative investor behavior.

Ripple's Strategic Initiatives

Ripple's corporate strategy appears to be boosting confidence in XRP. The firm is reportedly planning a $1 billion Digital Asset Treasury to manage and accumulate XRP.

Ripple has invested approximately $3 billion in acquisitions, including Metaco and others, to develop a comprehensive corporate finance stack for XRP and its upcoming RLUSD stablecoin.

ETF Speculation

There is growing speculation that the U.S. Securities and Exchange Commission (SEC) may soon approve an XRP exchange-traded fund (ETF). This anticipation has fueled applications for leveraged XRP ETF products, indicating renewed institutional interest.

Key Takeaways:

• XRP shows signs of strength amidst market turbulence.
• Whale accumulation suggests long-term confidence.
• Ripple's strategic moves are bolstering market optimism.
• ETF speculation is increasing investor interest.