XRP News Today: Institutional Confidence Lights Up XRP's Path to Mainstream Breakout

New XRP Billboard Unveiled by Top US Exchange in NYC

A new XRP billboard has been unveiled in New York City by one of the top U.S. cryptocurrency exchanges, signaling a growing institutional interest in the digital asset. The billboard is part of an aggressive campaign to raise awareness and promote XRP as a viable investment option in the U.S. market. The move aligns with recent developments in the regulatory and market landscape for XRP, which has seen increasing institutional adoption and a surge in demand from corporate investors.

This increased institutional activity is evident in recent on-chain data, which reveals that XRP whales—wallets holding between 10 million and 100 million XRP—have been aggressively accumulating the asset over the past two weeks. According to analysis from Santiment and CryptoQuant, these large holders have purchased 340 million XRP coins, currently holding approximately 7.84 billion coins. The buying activity reflects confidence in XRP’s long-term potential, despite ongoing volatility in the broader cryptocurrency market.

At the same time, corporate investors are also showing increased interest in XRP. Japanese gaming company Gumi recently announced plans to acquire XRP valued at 2.5 billion Japanese yen (approximately $17 million) for treasury management. Additionally, Hyperscale Data, a publicly traded company listed on the New York Stock Exchange, is seeking to raise up to $125 million through the sale of common shares to buy both Bitcoin and XRP. These developments suggest that XRP is becoming an increasingly attractive asset for institutional portfolio diversification.

Regulatory clarity in the United States has played a pivotal role in bolstering XRP’s institutional appeal. The U.S. Court of Appeals recently approved the joint dismissal of appeals from the Securities and Exchange Commission and Ripple Labs, providing much-needed legal certainty for the asset. This regulatory development has been accompanied by a surge in ETF-related activity. As of late August, 15 fund managers have submitted applications with the U.S. SEC to offer spot XRP ETFs, including Amplify ETFs, which recently filed for the Amplify XRP [%] Monthly Option Income ETF. The potential approval of these ETFs could further drive institutional demand and increase market liquidity for XRP.

Despite the bullish developments, XRP remains within a descending triangle pattern on the XRP/USD pair, a technical formation that could lead to either a breakout or a breakdown depending on market dynamics. The price has retested key support levels around $2.8 in recent days, with veteran trader Peter Brandt cautioning investors that a failure to defend this level could send the price down to $2.38. However, given the recent accumulation by institutional and whale investors, many market participants are optimistic about a potential macro bullish breakout in the near term.

The XRP market continues to evolve in a landscape of both opportunity and risk. Institutional demand, regulatory clarity, and growing market infrastructure are key factors that could influence XRP’s trajectory in the months ahead. While the asset remains volatile, the combination of renewed buying activity and favorable regulatory developments suggests a potential turning point for XRP in the U.S. market.

Source:

[1] XRP Whales Buys the Dip Amid Macro Bullish Market (https://coingape.com/xrp-whales-buys-the-dip-amid-macro-bullish-market-structure/)

[2] Is an XRP Breakout on the Horizon? (https://finance.yahoo.com/news/xrp-breakout-horizon-121900321.html)