XRP news today: XRP Whales Accumulate 900M Tokens, Anticipating ETF Approval and Lawsuit Resolution

A significant accumulation trend is currently underway for XRP, with large holders, or "whales," actively increasing their positions. This trend suggests a bullish outlook for the altcoin, as it could potentially break out from its current range following this accumulation phase.

Crypto analyst Kyle highlighted that over 300,000 addresses now hold 10,000 XRP or more, indicating a rising confidence among whales and large holders. This strategic accumulation raises the possibility that major players are attempting to front-run a significant move within the XRP ecosystem.

This major move could be the launch of an XRP ETF or the resolution of the Ripple SEC lawsuit. According to the analyst's forecast, an XRP ETF has a 90% chance of approval by the SEC this year. The launch of this fund could drive more capital into the XRP ecosystem, potentially sparking a surge in the token’s price.

The conclusion of the Ripple SEC lawsuit would also be a major development. Both parties have reached an agreement, but the court still needs to rule on it before the lawsuit can be considered resolved. The end of the lawsuit would provide clarity and could spark a significant surge in price.

Crypto analyst Ali Martinez also confirmed the accumulation trend among these whales. He revealed that wallets holding between 10 million and 100 million XRP have bought around 900 million XRP over the past month. Amid this accumulation trend, traders are also leaning bullish towards the asset.

Crypto analyst Dark Defender discussed the current XRP price action and provided insights into what is next for the altcoin. He noted that XRP found resistance between $2.2 and $2.36 and dropped to $2.13 again. In line with this, the analyst remarked that the altcoin is getting ready to finish the correction and is on to the last bit.

The analyst projects an incoming surge with five waves. He predicts that the initial wave will send the XRP towards $3, and then the altcoin will reach $4.4 and $6.3 on Waves 3 and 5, respectively. A rally to $4.4 would mark a new all-time high (ATH) for the token. Meanwhile, Dark Defender stated that $1.88 is the support level to keep an eye on.