- Traders and whales bought 30M XRP as price dipped below $2.80, raising total holdings to 6.77B.
- Accumulation reflects confidence ahead of possible SEC approval for Franklin Templeton’s XRP ETF in November.
- If ETFs are approved, XRP could surge past $3 and align with Bitcoin and Ethereum in institutional markets.
XRP slipped under the $2.80 mark this week, briefly touching $2.78 before stabilizing in a tight range between $2.78 and $2.85. According to TradingView data, traders and whales used the dip as an entry point, scooping up more than 30 million XRP. Total holdings climbed from 6.74 billion to 6.77 billion tokens, signaling renewed confidence despite broader market weakness.
Why Accumulation Could Signal a Bullish Turn
The heavy buying during the pullback suggests investors are betting on a rebound, with many eyeing a push back toward $3 if resistance at $2.90 is cleared. XRP found strong support around the $2.70 level, refusing to break lower during the recent crash. That resilience has strengthened the case that large players see value at current prices, especially with major catalysts on the horizon.
ETF Approval Speculation Heats Up
One key driver behind the whale activity is growing speculation that the SEC could approve the Franklin Templeton XRP ETF in November. Several other asset managers have also filed for similar products, with decisions expected before year-end. Approval would put XRP in the same league as Bitcoin and Ethereum, which already benefit from ETF access. The anticipation of fresh institutional inflows is fueling optimism among traders despite lingering uncertainty.
The Road Ahead for XRP
The political climate may also support bullish expectations. With a crypto-friendly White House openly discussing Bitcoin reserves and broader digital asset adoption, regulatory headwinds could soften. Still, the SEC’s eight-year battle with Ripple hangs over the decision, leaving room for setbacks. For now, whales are betting that ETF approvals will send XRP soaring—and they’re willing to load up during dips to prepare for the potential upside.
