XRP News Today: XRP Surges 26% as Whale Opens $15.58 Million Long Position Ahead of SEC Meeting

Recent activity in the cryptocurrency market has sparked significant interest, particularly surrounding the digital asset XRP. A staggering $15.58 million long position on XRP has just been opened at $3.1589, according to a recent post by crypto commentator Xaif. This move has reignited speculation across the XRP community about what exactly this whale knows that the broader market doesn’t.

With XRP now trading around $3.26, up more than 10% in the past 24 hours, the timing and size of this trade suggest something bigger may be on the horizon. This isn’t just a large bet; it feels like a message. Many believe it points to one thing: a potential breakthrough in the Ripple vs. SEC case.

July 17 marks a potentially pivotal date. The U.S. Securities and Exchange Commission is holding a closed-door meeting, and optimism is running high among XRP supporters that the Commission might finally vote to drop its appeal in the Ripple lawsuit. This expectation follows months of legal back-and-forth. Ripple has announced its intention to withdraw its counter-appeal, leaving the SEC to decide whether to continue pressing its case. If the agency chooses to end the fight, it would bring long-awaited closure to the legal saga that has loomed over XRP since late 2020.

However, industry experts urge caution. Former SEC Regional Director Marc Fagel warned that nothing is guaranteed. He emphasized that the agenda for such closed meetings is confidential and that anyone claiming to know what will happen “is making it up.” While Fagel believes the SEC will eventually dismiss its appeal, he stressed that it may not happen today, and that even if a vote is held, the official dismissal could still take weeks due to procedural filings.

Xaif’s post didn’t just highlight the whale’s trade; it asked a compelling question: “Settlement today? Final move before the moon?” That’s exactly what the XRP community is hoping for. If the SEC formally drops its appeal and brings the case to a close, it could trigger a powerful rally in XRP’s price, especially with momentum already building.

Whether this $15.58 million long is a brilliant prediction or a calculated risk, it has undoubtedly added fuel to the anticipation. Whales don’t move on emotion; they move on information, insight, and timing. The size and precision of this position suggest that something major may be unfolding behind the scenes.

As the market waits for confirmation, one thing is clear: this isn’t just a trade, it’s a signal. And if the signal proves accurate, XRP could be on the brink of a historic breakout. The recent price action of XRP indicates a resurgence of institutional interest. The cryptocurrency's price has been on a steady climb, reaching $3.30 and nearing its 2018 all-time high. This bullish sentiment is further supported by the rise in futures open interest, which has reached its highest level since 2021. The increased activity in the futures market suggests that traders are optimistic about XRP's future prospects, possibly driven by speculation around regulatory approvals or other market-moving news.

The surge in XRP's price has been particularly notable, with the cryptocurrency experiencing a 26% rally over the past week. This impressive performance has caught the attention of traders and investors alike, who are now eyeing further gains. The bullish momentum is also evident in the broader market sentiment, with many traders betting that XRP's recent gains are just the beginning of a larger upward trend. The speculation around regulatory approvals has added fuel to the fire, with some analysts predicting an 88% chance of approval by December 2025. This optimism is reflected in the market, as traders anticipate that regulatory clarity could drive significant price appreciation for XRP.

The recent activity of XRP whales has also been a topic of discussion. Whales, or large holders of XRP, have been actively moving their holdings, which has contributed to the price volatility. Some analysts speculate that these whales may be reacting to larger market trends or positioning themselves for upcoming regulatory decisions. The movement of these large holdings has added to the overall bullish sentiment, as traders interpret these actions as a sign of confidence in XRP's future prospects.

In summary, the recent price action of XRP, coupled with the increased activity of whales and institutional investors, suggests that something significant may be on the horizon. The cryptocurrency's surge in price, nearing its all-time high, and the bullish sentiment in the futures market indicate that traders are optimistic about XRP's future. The speculation around regulatory approvals has added to the overall bullish sentiment, with many traders and analysts predicting further gains for XRP.