A large amount of funds is flowing into the XRP market, raising expectations for ETF launch. According to data shared by on-chain data analyst Ali Martinez, whale wallets holding large amounts of XRP have additionally accumulated 900 million XRP in the past 48 hours. This amounts to approximately 4.057 billion won at current market prices.
In particular, these whale wallets hold 100 million to 1 billion XRP, wielding market influence entirely different from typical investors. Data provider Santiment analyzed that this large-scale accumulation began in earnest since late July and served as a signal for price rebound.
In fact, while XRP showed a short-term decline in recent days, it recorded a strong rebound, temporarily recovering to the 3.2 dollar (about 4,448 won) level, thanks to these whales' buying pressure. As concentrated whale purchases have historically been a precursor to altcoin market rebounds, investor expectations are growing.
The market is also discussing scenarios where XRP could challenge its all-time high in the latter half of this year. Especially, rumors about XRP ETF launch and Ripple's moves to expand key partnerships are further bolstering potential price increase possibilities.
However, recent price declines in major cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), and XRP are interpreted as reflecting profit-taking by some long-term holders. Nevertheless, such large-scale buying flows are seen as indicators symbolizing institutional and large investors' restored confidence in the XRP ecosystem.
Even with ETF approval still unconfirmed, the market is moving with weight on XRP's medium to long-term growth potential. Forecasts suggest price reactions could be stronger if official announcements follow.
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