Whales are once again making their presence known in the XRP market. Blockchain data shows that in August alone, wallets holding over 10 million XRP increased their holdings by more than 600 million tokens. Analysts interpret this as a strong signal that large investors see upside potential for XRP ahead of a significant catalyst: the possible approval of a U.S. ETF. Historically, whale accumulation has typically preceded significant XRP price increases, and this activity suggests that the $6 XRP price may return faster than many expect.
ETF speculation intensifies
The potential of the XRP ETF has greatly changed market sentiment. Analysts believe that the approval of this ETF could trigger billions of dollars in capital inflow, replicating the success of Bitcoin and Ethereum ETFs earlier this year. Ripple's growing partnerships with banks and payment service providers further reinforce this argument, indicating that XRP is not merely speculative; it has become embedded in the cross-border payment infrastructure.
Technical enhancement
On the chart, XRP maintains support above $5.10 and consolidates before the next move. Analysts emphasize that a breakout above $5.60 could unleash momentum buying, laying the foundation for a $6 target. The RSI indicator remains balanced, indicating there is still room for upward movement. Whale buying supports the technicals, and conditions are in place for a significant rebound.
