XRP Price Nears Potential Surge Amid Increased Whale Demand
The altcoin market, led by XRP, is experiencing short-term bearish sentiment. However, its positive correlation with Bitcoin suggests a potential bullish rebound.
XRP Price Overview
- XRP's fully diluted valuation is approximately $232 billion.
- 24-hour traded volume averages around $6.3 billion.
- XRP price decreased by 4% over the past 24 hours, trading at around $2.36.
- Recent technical analysis indicates a rising bullish flag and pennant formations for XRP.
Whale Activity
- Whale investors increased demand during recent market corrections.
- Accounts holding between 100 million and 1 billion XRPs added about 520 million coins.
- Current whale holdings total approximately 10.46 billion XRP.
Spot ETF Developments
- Approval for spot XRP ETFs is expected due to regulatory support from the Trump administration.
- Cboe filed 19b-4s for spot XRP ETFs on behalf of multiple investment firms.
- The US SEC has 240 days to respond to these filings after confirmation.