Whales Hoard 400M XRP as ETF Approval Odds Near 97%

XRP, the digital asset associated with Ripple, has become a focal point for market speculation, particularly around the potential approval of spot XRP exchange-traded funds (ETFs). Analysts and market observers are closely monitoring the situation, with forecasts indicating a high probability of such approvals in the near term. According to a recent institutional report from Coinbase, over 90 ETF applications have been submitted to the U.S. Securities and Exchange Commission (SEC), signaling a significant institutional shift in the digital asset market. Polymarket, a prediction market platform, has assigned a 97% probability to an XRP ETF approval, with major asset managers like Bitwise, Grayscale, Franklin Templeton, and VanEck refining their filings. Analysts suggest that if approved, a spot XRP ETF could attract over $5 billion in inflows, drawing parallels to the strong investor demand seen during the approval of Bitcoin and Ethereum ETFs.

Market sentiment for XRP has been further reinforced by whale activity, with wallets holding over 10 million XRP adding nearly 400 million tokens in the past two weeks. This accumulation has brought total whale holdings to over 7.9 billion XRP, a pattern historically associated with major price rallies. Analysts argue that this accumulation, combined with speculation around U.S. ETF approval, could push XRP toward $5.50 in the coming months. On-chain price action has also shown signs of bullish momentum, with XRP breaking out of a falling wedge pattern and surging 7.3% over the last three sessions. Technical indicators suggest a potential breakout above key resistance levels at $3.20 and $3.40 could open the path toward a new all-time high.

The possibility of an XRP ETF has transformed the market's perception of the asset. Analysts note that if regulators approve such a product, demand could surge as institutions allocate to XRP in the same manner they have with Bitcoin and Ethereum. Ripple’s ongoing expansion in cross-border settlements further reinforces the asset’s utility, showing that its value proposition extends beyond speculative trading. With global financial institutions already testing Ripple’s technology, ETF approval could serve as the catalyst for a broader revaluation of XRP’s market capitalization and utility.

In parallel with XRP’s institutional momentum, retail investors are also showing interest in other high-growth crypto projects. For instance, Bitcoin Hyper, a layer-2 protocol built on Bitcoin, has attracted significant attention due to its potential to enhance Bitcoin’s functionality with Solana-like speed and scalability. The project has raised over $14.6 million in presale, with analysts predicting a strong listing potential. While XRP benefits from whale confidence and ETF speculation, Bitcoin Hyper exemplifies the growing interest in layer-2 solutions and the broader evolution of the Bitcoin ecosystem.

The broader crypto market has shown continued resilience, with the total market capitalization surpassing $3.82 trillion in August. Despite a 18% decline in daily active unique wallets (dUAW), on-chain activity remains robust, particularly in the DeFi and NFT sectors. DeFi total value locked (TVL) hit an all-time high of $292 billion, driven by Ethereum’s strong performance. Meanwhile, NFT trading volume increased by 9%, with Courtyard surpassing Ethereum blue-chip projects to lead all collections. These developments highlight the market’s transition from speculative hype to more structured, institutional-grade infrastructure.