XRP demonstrates Resilience Amidst Price Correction
XRP, trading around $2.83, is showing promising signs despite being 23% below its all-time high of $3.66. Recent market activity suggests the token might be preparing for a comeback.
Large Holders Snap Up XRP: Data reveals that wallets owning at least 1 million XRP have hit a record high of 2,743 addresses. During a recent market dip, these whales grabbed 340 million XRP—worth about $962 million. This notable accumulation hints at institutional confidence.
Institutional wallets have also been active. Over four days, wallets holding between 100 million and 1 billion XRP added 1.2 billion XRP, valuing nearly $3.8 billion. This strong investment shows big players believe in XRP’s potential.
ETF Momentum Builds： While there are no approved XRP spot ETFs yet, several companies have filed for them. Experts like Nate Geraci think investor interest in XRP and Solana ETFs is underestimated. Positive regulatory changes and multiple filings indicate a favorable outlook, with decisions expected by October.
Corporate Treasury Investment: Gumi, a Japanese gaming company, plans to buy $17 million in XRP for its treasury over the next few months. Their strategy suggests XRP has a valuable role in financial and business operations.
This combination of whale buying, growing ETF prospects, and corporate adoption gives XRP a solid foundation. If these trends continue, XRP might soon be primed for another upward movement.
