XRP ETF Launched in North America, Coinbase Reduces Holdings by 16.5 Million

XRP's latest price was $2.94, down 0.774% in the last 24 hours. 3iQ, a prominent Canadian digital asset manager, has officially launched the first XRP-focused exchange-traded fund (ETF) in North America, XRPQ. This ETF, which began trading on the Toronto Stock Exchange (TSX), represents a significant milestone in providing regulated access to XRP, Ripple’s native cryptocurrency. Ripple itself supports XRPQ, having made an early investment in the fund. The ETF is designed to give investors regulated exposure to XRP, the fourth-largest cryptocurrency by market capitalization. As part of the offering, 3iQ has waived management fees for the first six months, providing an incentive for early investors to participate. According to Pascal St-Jean, CEO of 3iQ, the ETF aims to offer investors a transparent, cost-effective, and secure way to invest in digital assets within a regulated environment. All XRP holdings in the ETF are acquired from reputable exchanges and over-the-counter (OTC) platforms, with the assets securely stored in cold storage. The ETF’s launch comes as institutional demand for cryptocurrency products continues to rise, with investors seeking reliable, regulated pathways into the digital asset space. In addition to XRPQ’s success in Canada, the U.S. is also moving closer to the approval of XRP-focused ETFs. The WisdomTree XRP Trust, for instance, has filed with the SEC to be listed on the Cboe BZX Exchange. If approved, it would provide U.S. investors with a regulated method to gain exposure to XRP without the need for direct ownership.

In a surprising move, Coinbase, one of the largest U.S.-based cryptocurrency exchanges, has drastically reduced its cold wallet XRP holdings by 16.5 million XRP. According to on-chain data, the exchange has seen a notable decline in both the number of cold wallets and the XRP stored within them. Coinbase has moved a large volume of XRP out of its cold storage in the last 24 hours and now has one less cold wallet in its possession. Previously, Coinbase maintained 52 cold wallets containing XRP: 42 wallets with 16.5 million XRP and 10 wallets with 26.8 million XRP. However, currently, there are only seven cold wallets left, each containing 16.5 million XRP. This massive drop in cold wallets with XRP has raised some questions about Coinbase’s strategy and handling of digital assets. This change in the number of cold wallets held is not just a mere change but an indication of how Coinbase is managing its crypto assets in adapting to current market shifts. Such a significant shift of XRP indicates that Coinbase might be reviewing its internal policies because of the variations in the cryptocurrency market. Adding to the intrigue, Whale Alert, a cryptocurrency tracking service, recently reported a massive XRP transfer. According to the data, 17,841,869 XRP was moved to an unknown wallet on Coinbase. The XRP community has taken notice of this high-volume transfer, which analysts are closely monitoring for possible market implications. Large-scale migrations of this sort can usually signify an influx of market activity and the entry of institutional actors. The fact that this transaction was even made at the moment further adds to speculation that XRP is garnering increasing interest, which could eventually lead to huge price swings in the future. Coinbase’s decision to reduce its cold wallet XRP holdings coincides with rising activity and shifting strategies within the cryptocurrency market. The combination of this drastic change and the large transfer reported by Whale Alert raises essential questions about the exchange’s approach to asset management. Coinbase may be adjusting its XRP holdings in response to shifting market trends or to prepare for larger movements in the cryptocurrency space. The recent transfer and the reduction in cold wallet holdings reflect how exchanges like Coinbase are constantly adapting to market conditions. As the market continues to evolve, Coinbase’s decision to move such a large amount of XRP could signal a change in how it plans to approach its holdings and respond to future shifts in the crypto landscape.

A respected analyst on X, known by the handle $589, has made a bold prediction that is stirring discussion across the crypto community. In a recent post, $589 stated that his professional technical analysis indicates XRP is poised to reach $5.89 or higher within this month. The claim, backed by chart-based reasoning, has gained traction as traders weigh the probability of such a sharp rally within a compressed timeframe. The projection is rooted in classical technical analysis principles. $589’s outlook aligns with other independent chartists who have highlighted the significance of XRP’s current trading range. Currently, XRP is trading steadily between $2.90 and $3.00, a range many consider a key turning point. For the bullish trajectory to materialize, analysts argue that the token must first close decisively above the $3.30 to $3.40 resistance zone. If that breakout is achieved with strong trading volume, historical measured-move techniques, Fibonacci extensions, and harmonic projections suggest XRP could extend toward the $5.80 to $6.00 region. One detailed market analysis even set a $5.85 target after a confirmed breakout at $3.33, underscoring how closely these technical frameworks align with $589’s forecast. The convergence of such projections lends credibility to the idea that XRP has a technically defensible path to the mid-$5 range. Beyond chart formations, broader market conditions also provide context for the prediction. Whale accumulation has increased in recent weeks, while on-chain trackers report consistent exchange outflows of XRP. This dynamic reduces available supply on trading venues and can intensify upward price pressure when demand rises. Coupled with improving sentiment in the wider cryptocurrency market, these flows suggest that momentum could shift quickly once resistance levels are cleared. Bitcoin’s ongoing stability above the $110,000 threshold and renewed optimism around altcoins add further fuel to the bullish case. When market liquidity shifts toward top-valued altcoins, XRP often gains as it’s among the most liquid and widely held tokens. By framing the projection within this month, $589 suggests an imminent acceleration in XRP’s price action. For that to happen, certain conditions must align in the coming weeks: a strong daily close above $3.30, follow-through beyond the intermediate barrier at $3.80 to $4.10, and a supportive macro backdrop that maintains risk-on momentum. If these milestones are achieved early, a swift rally toward $5.89 becomes a realistic near-term outcome. Despite the optimism, traders are reminded to consider the risks that could derail such a move. Large-scale profit-taking by early entrants or negative macroeconomic news could also blunt the momentum required for a sustained breakout. $589’s call for XRP to hit $5.89 or more this month is bold, precise, and grounded in recognizable technical analysis frameworks. The setup is clear: consolidation near $3.00, a breakout requirement above $3.30, and measured projections pointing to the mid-$5 range. Whether these conditions align swiftly enough remains uncertain, but the forecast has added fresh energy to XRP discussions, offering traders both a technical roadmap and a timeframe to watch closely.

Market attention has centered on developments surrounding the digital asset XRP, particularly concerning its regulatory environment and strategic positioning. Anticipation is building regarding the upcoming decision from the United States Securities and Exchange Commission (SEC) on potential exchange-traded funds (ETFs) directly tied to XRP, scheduled for October 2025. This regulatory milestone represents a significant focus within the cryptocurrency sector, directly impacting XRP's operational landscape within the U.S. financial system. Broader macroeconomic factors are also seen as potential catalysts for digital assets. Prevailing market sentiment suggests an increased probability of interest rate cuts by the Federal Reserve, which could potentially heighten institutional and retail interest across the cryptocurrency asset class, including assets like XRP. This changing interest rate environment is viewed by some analysts as a potential driver for the wider adoption and utilization of digital tokens. A notable development driving discussion is the emergence of significant market speculation concerning technology giant Apple. Unverified rumors circulating suggest that Apple might be contemplating a substantial $1.5 billion purchase of XRP tokens. These rumors, linking a major global corporation with such a significant acquisition, have generated considerable buzz within crypto investment circles. XRP community proponents and market observers are closely monitoring any potential confirmation or denial from Apple, recognizing the potential implications such a move could have for XRP's integration and perceived utility. Looking towards the longer term, certain cryptocurrency market analysts have offered perspectives linking XRP's trajectory to the broader performance of the leading digital asset, Bitcoin. They suggest that a substantial rise in Bitcoin's value, potentially reaching a range between $150,000 and $200,000, could create favorable conditions for XRP, potentially lifting its value proposition significantly by the end of 2025. However, these viewpoints represent projections based on market dynamics and should be considered speculative.