XRP news today: XRP Whale Accumulation Surges 12% Amid SEC ETF Delay

Whale accumulation trends indicate potential bullish momentum for XRP as over 1 billion tokens were amassed in just two days. The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Franklin Templeton’s spot XRP ETF until June, intensifying market focus. This decision is crucial as it affects not just XRP but a broader landscape of cryptocurrencies aiming for ETF approval. Analysts were not surprised; the SEC’s increased scrutiny on cryptocurrency funds has been a recurring theme in the industry.

Even alongside delays, industry experts maintain a positive outlook. An ETF analyst expects such postponements as the agency seeks to make well-informed regulatory decisions. He noted that the main deadline for several ETF applications remains in October, suggesting the regulatory landscape may clear in the latter half of the year. With the delays, the market sentiment around ETFs has remained buoyed. An ETF expert expressed optimism, stating, “I still think all altcoin ETFs, including staking and in-kind creations/redemption, will be approved this year.” An ETF analyst echoed this sentiment, asserting that applications are likely to face approval soon, with overall odds for XRP and DOGE ETFs ranging between 80% and 85%.

As anticipation grows, a finance lawyer and investor in crypto, suggested that approvals may start appearing by June or July, coinciding with the crucial deadlines for XRP ETFs. He noted, “The party starts end of June/early July. Avalanche of approvals after.” This perspective aligns with the significant uptick in whale activities observed recently. Recent data revealed remarkable whale activity within the XRP community. A significant cohort, holding between 100 million and 1 billion XRP tokens, has increased its holdings by over 1 billion tokens within a mere two days, raising their total from 8.16 billion to 9.16 billion XRP. This accumulation has crucial implications, indicating confidence among large investors amid regulatory uncertainty.

Despite increasing whale activity, XRP faces resistance around the $2.4-$2.5 mark, presenting a critical barrier for potential bullish movements. If Bitcoin’s consolidation around $95K persists, XRP might trade in a range of $2.1 to $2.4 in the short to medium term. In summary, the SEC’s delay on ETF decisions, combined with significant whale accumulation, paints an intriguing picture for XRP. Investors are advised to monitor upcoming deadlines closely, as regulatory approvals could precipitate notable price movements. The environment remains dynamic, and staying informed will be vital for market participants.