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ZyCrypto 2025-02-23 22:06:47

Whales Scoop Up $150 Million XRP in Hours Amid SEC’s Super Bullish Spot XRP ETF Move

XRP has continued to draw significant interest from deep-pocketed investors as the Trump administration remains favorable to the crypto sector. Despite XRP prices trading sideways for the past two or so months now, these holders have been ramping up their accumulation, fueling a new buying frenzy. On Wednesday, popular crypto analyst Ali Martinez highlighted this trend, revealing in a tweet “ Whales bought 150 million XRP in the last 48 hours” . Notably, this surge in accumulation coincides with the U.S. Securities and Exchange Commission (SEC) acknowledging three additional spot XRP ETF filings, bringing the total number of pending applications to six in just under two weeks. On Wednesday, the SEC officially acknowledged three separate filings for spot XRP ETFs from asset managers WisdomTree, Canary Capital, and CoinShares, marking a crucial step in the ongoing push to introduce institutional-grade XRP investment products. According to the SEC’s official statement, the agency has opened a public comment period to assess whether the applications comply with Section 19(b)(1) of the Securities Exchange Act 1934. Investors and stakeholders have 21 days to submit feedback once the filings appear in the Federal Register. The commission then has up to 240 days to approve or reject the applications. These latest filings come just days after the SEC acknowledged three similar XRP ETF applications from Bitwise, Grayscale, and 21Shares, signaling a potential shift in regulatory sentiment and an accelerating path toward spot XRP ETF approvals. Meanwhile, the push for XRP ETFs extends beyond the U.S. According to sources, the Brazilian Securities and Exchange Commission (CVM) has approved the world’s first spot XRP ETF, with only a trading launch date pending. Furthermore, building on Marinez’s findings, the surge in ETF filings has reignited buying activity among large investors. In a Thursday tweet, crypto analytics platform Santiment emphasized this trend, highlighting a significant rise in XRP accumulation among major holders. “There are 261 more 100,000 XRP wallets than 10 weeks ago, a strong sign of confidence from key stakeholders,” the firm reported . Santiment further noted that despite a stagnant broader crypto market, XRP has sustained strong momentum, outperforming Bitcoin (BTC) in recent months. The XRP Ledger’s market cap is up 6% on the day and has posted a 9% gain over the past week, making it one of the few assets in positive territory. Since November 11, 2024, XRP’s price relative to BTC has surged by 297%. That said, whales’ and sharks’ sustained accumulation suggests confidence in XRP’s long-term trajectory, especially with the potential approval of a spot ETF on the horizon. At press time, XRP was trading at $2.57, reflecting a 0.50% surge in the past 24 hours.

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