In the context of a volatile crypto market, the price of XRP has unexpectedly entered its third consecutive week of increases, indicating positive and stable recovery. This rise is not only due to fundamental factors but also has significant contributions from major investors, particularly XRP whales.
XRP whales continue to accumulate
According to data from the analysis platform Santiment, the number of XRP whale addresses – those holding at least 1 million XRP – reached a record high of 2,743 on July 9. This figure marks a 9.7% increase from the beginning of the year, indicating strong interest from major investors in this currency. In total, these wallets currently hold 47.32 billion XRP, accounting for over 80% of the total circulating supply of XRP.
"More than 1 million wallets hold 47.32 billion XRP, indicating that they continue to believe in the future of XRP, which ranks in the top 4 by market capitalization."
Although the price of XRP has fallen nearly 30% from its peak in January, whales continue to accumulate strongly. This reflects the strong confidence of major investors that XRP still has growth potential in the long term.
In addition to the strong accumulation of whales, the derivatives market also records a strong increase in Long XRP positions. The decentralized exchange Hyperliquid recently recorded some large transactions related to XRP, showing strong consensus from traders.
Additionally, some analysts also suggest that XRP may witness a 'God Candle' — a sudden and strong price surge in 2025. The emergence of this 'God Candle' could provide a great opportunity for investors to capitalize on the price increase, as trading volume and optimistic sentiment are rising.
XRP ETF deadline – A significant event in July
One of the key factors driving the surge of XRP in July is the applications for XRP ETF licenses. According to information from Nick, the founder of Web3Alert, these applications will face a decision deadline from the U.S. Securities and Exchange Commission (SEC) this month, which could create a significant turning point in the future trading of XRP in the U.S. market.
Major names like ProShares, Turtle Capital, and Volatility Shares have officially filed for XRP ETF licenses, with the decision date set for mid-July. Notably, ProShares plans to launch three XRP ETF products on July 14, including: Ultra XRP ETF, UltraShort XRP ETF, and Short XRP ETF. Meanwhile, Turtle Capital and Volatility Shares will also introduce 2x leveraged funds on July 21.
The emergence of ETF funds is expected to increase upward price pressure on XRP, opening new opportunities for institutional investors to enter the market. This is not only a positive signal for broader acceptance of XRP, but could also be a strong driver for the long-term development of this currency.
However, not all opinions are in agreement. Some users on social media X are concerned that ETF decisions may be delayed, and that these funds might not be approved before Q4 of 2025. Nevertheless, the overall sentiment in the market remains optimistic.
Based on predictions from Polymarket, a market forecasting platform, there is a 90% chance that an XRP ETF will be approved by the SEC by 2025, reflecting strong investor confidence in the outlook for XRP.
With the strong increase of XRP whales, the entry of ETFs, and a spreading positive sentiment, it can be seen that XRP is on the path to strong recovery. Although the market still poses many risks, fundamental factors such as whale accumulation and the development of the derivatives market are creating a solid foundation for this currency. Whether or not the SEC approves the ETFs will be a decisive factor in the near future, but until then, confidence in XRP remains high.