XRP Whales Accumulate 1 Billion Tokens Amid ETF Speculation

XRP, the native cryptocurrency of Ripple Labs‘ decentralized blockchain, is experiencing a consolidation phase as major cryptocurrencies like Solana, Polkadot, and Cardano face double-digit declines. Trading at $2.39 on Saturday, XRP remains below its 2024 highs but is poised for potential growth due to key fundamental and technical factors.

Whale accumulation has emerged as a significant bullish catalyst for XRP. According to Ali Martinez, a prominent crypto investor citing Santiment data, XRP whales purchased 1 billion tokens in the last 48 hours. This accumulation suggests confidence in the cryptocurrency’s future performance despite broader market volatility.

Speculation around the approval of a spot XRP exchange-traded fund (ETF) is also driving optimism. Polymarket traders predict a 68% chance of an XRP ETF approval by 2025, with a 51% likelihood by July 31. These hopes have been bolstered by Donald Trump‘s pro-crypto stance following his election victory, including the appointment of a crypto-friendly SEC chair and the formation of an AI and crypto council.

Crypto ETFs have gained significant traction among investors, with Bitcoin ETFs amassing over $107 billion in assets and Ethereum ETFs holding $11.6 billion. The potential approval of XRP, Solana, Hedera Hashgraph, and Chainlink ETFs could further expand this market.

From a technical perspective, XRP is forming a bullish pennant pattern, a signal often associated with price continuation. The cryptocurrency has remained above the 50-day moving average, and its MVRV indicator suggests it is undervalued. Analysts predict a potential breakout, with key resistance levels at $2.90 and $3.