The post XRP Price Surge Driven by Whale Accumulation and Speculation on Possible ETF Listing appeared on BitcoinEthereumNews.com.

XRP’s recent price surge amidst a turbulent crypto market can be attributed to significant whale accumulation and growing speculation over a possible ETF listing in the US. Recent data indicates that since November 2024, there has been robust accumulation of XRP, particularly among large holders, signaling renewed investor confidence. As highlighted by Santiment, “XRP investors are pleased to see the #3 market cap asset reach $2.69 today for the first time since Dec. 17, 2024,” underscoring the bullish sentiment surrounding XRP. XRP’s price has seen significant gains due to aggressive whale accumulation and speculation about an impending ETF listing, boosting investor confidence in the asset. Whale Accumulation Fuels XRP’s Ascent The notable rise in XRP’s price is directly linked to increased accumulation by whale investors, specifically those holding between 1 million and 10 million XRP tokens. According to Santiment, these wallets have amassed an impressive 1.43 billion XRP since November 12, representing an accumulation increase of approximately 37.4%. This trend suggests that major investors are banking on XRP’s potential future upside, likely influenced by factors such as the anticipated ETF listing. On-chain protocol Derive’s head of research, Sean Dawson, remarked that “XRP’s strong momentum is most likely due to a possible XRP ETF listing sometime this year.” This speculative connection to the broader market’s ETF activities has undoubtedly contributed to its recent momentum. Investor Sentiment and Market Activity The current investor sentiment surrounding XRP appears buoyant, driven by market dynamics where investors are looking to capitalize on altcoins as Bitcoin (BTC) shows signs of consolidation. Dawson noted that as BTC gets bought up, investors might pivot their capital towards altcoins, particularly XRP, which fuels bullish sentiment and supports price action. Adding to the positive atmosphere, blockchain media outlet Gokhshtein Media’s founder, David Gokhshtein, commented on social media, stating, “XRP holders…

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Filed under: News - @ January 15, 2025 6:20 am