Whale Buys 150 Million XRP, Here’s the Impact on XRP Price!

Bittime - In the last 48 hours, as many as 150 million XRP have been purchased by whales. This massive purchase occurred amidst stagnant XRP price movements in recent months.

So, what impact will this have on the price of XRP? Read this article to find out more!

SEC Admits 3 XRP ETF Filings 

One of the main factors driving whales' increased interest in XRP is the recent move by the US SEC, which has just approved 3 additional spot XRP ETF filings from WisdomTree, Canary Capital, and CoinShares.

Thus, in less than two weeks, the total of pending XRP ETF applications has reached six.

The SEC has opened a public comment period to evaluate whether the filing complies with the provisions of Section 19(b)(1) of the Securities Exchange Act of 1934. 

Stakeholders are given 21 days to provide input once the filing appears in the Federal Register, while the SEC has up to 240 days to approve or reject the proposal.

Read Also: XRP ETF: Latest Developments You Should Know 

Positive Trends of XRP ETF in Global Markets

Not only in the US, the development of the XRP ETF is also taking place in Brazil. The Brazilian Capital Markets Authority (CVM) has given approval to the world's first spot XRP ETF.

First XRP ETF approval This shows that regulation of XRP is starting to move in a more positive direction. 

As more and more countries open their doors to XRP-based investment products, demand for this asset also has the potential to increase significantly.

Impact of Massive Buying on XRP Price  

In addition to the increasing number of proposed XRP ETFs, the accumulation trend by whales also provides a strong indication that the price of XRP could experience a surge in the near future. 

According to data from crypto analytics platform Santiment, the number of wallets holding more than 100,000 XRP has increased by 261 in the last 10 weeks. Matter This shows the whales' high confidence in XRP's long-term prospects. 

In recent months, even though the overall crypto market has tended to stagnate, XRP has managed to maintain positive momentum and even outperform Bitcoin in terms of price performance.

Read Also: Ripple Plans to Launch XRP Depository Receipts, What Are They? 

XRP Price Today  

Source: Bittime.com

Based on Bittime market, XRP price is at $2.47, down 4.36% in the last 24 hours when this article was written. 

However, with massive accumulation from institutional investors as well as the potential approval of a spot XRP ETF, the price of XRP is likely to continue rising in the coming months.

If this trend continues, the price of XRP could experience a significant increase, especially if the spot XRP ETF gets the green light from the regulator. 

Read Also: XRP Price Analysis is Stable Even though the Crypto Market is Crashing 

XRP FAQs

What is XRP and what is its use?

XRP is a digital asset created by Ripple Labs and designed to facilitate cross-border payments. XRP blockchain technology enables transactions in just a few seconds with very low fees making it ideal for international money transfers and micropayments.

What is the Difference Between XRP and Other Cryptocurrencies Like Bitcoin?

XRP supports a cross-border payment system with a focus on speed and cost efficiency, different from Bitcoin which functions more as a store of value and investment tool. In addition, XRP uses a consensus mechanism that does not require mining so it is more energy efficient.

How much is 1 XRP USD?

Currently, 1 XRP is worth $2.47 according to Coinmarketcap. 

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Reference

ZyCrypto, Whales Scoop Up $150 Million XRP in Hours Amid SEC’s Super Bullish Spot XRP ETF Move, accessed February 24, 2025.

Coinmarketcap, Coinmarketcap XRP Currency, accessed February 24, 2025.

Author: IPR