XRP Whales Accumulate 150M Tokens as Price Stabilizes Above $2.60

Over the past two days, major XRP investors, known as whales, acquired nearly $400 million worth of the cryptocurrency. This substantial investment could exert upward pressure on XRP's valuation. Concurrently, the market awaits the U.S. Securities and Exchange Commission's (SEC) decision on spot XRP ETF applications from prominent firms like Grayscale, 21Shares, and Bitwise, which could serve as a key catalyst for future price movements.

Despite maintaining positive weekly performance, XRP has experienced some volatility recently.

The price fell below $2.50 on February 18 but has since rebounded to over $2.60, according to CoinGecko data. Prominent market observer Ali Martinez noted that whales seized the lower price point to accumulate 150 million XRP, valued at approximately $400 million.

This accumulation strategy could decrease the circulating supply, potentially increasing the asset's value if demand holds steady. Such actions often influence smaller investors to enter the market, adding fresh capital.

Martinez also projected a potential price increase for XRP, suggesting it could rise 4% to $2.68 if it breaks out of an ascending triangle pattern in the short-term charts. Additionally, analyst EGRAG CRYPTO emphasized the importance of XRP maintaining a position above the $2.69-$2.73 range on a 4-hour chart for a bullish trend continuation.

An approved spot XRP ETF could significantly influence the asset's price by offering investors exposure without the need to purchase the cryptocurrency directly. Grayscale, 21Shares, and Bitwise have expressed interest in launching such investment vehicles. The SEC has officially acknowledged these filings, and they are currently under regulatory review, with a final decision expected within 240 days from submission.

Market predictions from Polymarket suggest a 44% likelihood of an XRP ETF approval before July 31, with the probability rising to 78% by the end of 2025. This potential development could play a crucial role in determining XRP's value trajectory in the coming months.

Disclaimer: The information provided in this article is for educational purposes only and should not be considered financial or legal advice. Always conduct your own research or consult a professional when dealing with cryptocurrency assets.