XRP has surged to an impressive $2.49, marking its highest value since January 8, 2018. This nearly 7-year milestone comes on the back of significant whale activity, with wallets holding 1M–10M XRP accumulating 679.1 million tokens—worth approximately $1.66 billion—in just three weeks.
Additionally, the total number of non-empty XRP wallets has surpassed 5.5 million for the first time in the cryptocurrency’s 8+ year history.
Over the weekend, Ripple whales further bolstered their holdings, purchasing an additional 160 million XRP, valued at around $380 million. This accumulation highlights growing confidence in XRP’s potential as the asset continues its strong rally.
Driving optimism is the recent S-1 registration filing by asset management firm WisdomTree for a spot XRP Exchange-Traded Fund (ETF). Filed with the U.S. Securities and Exchange Commission (SEC), the proposed ETF would provide institutional investors with exposure to XRP without requiring direct ownership. If approved, it could pave the way for increased institutional demand and further price appreciation.
The filing comes amid a backdrop of regulatory developments, including a possible shift in SEC leadership and rising institutional interest in regulated crypto investment products. The XRP community is particularly bullish on the ETF’s potential, seeing it as a significant step forward for Ripple and the broader cryptocurrency market.
XRP’s recent rally has propelled it past major assets like BNB, SOL, and even USDT in market cap, briefly placing it as the third-largest cryptocurrency. Although a price correction has since pushed it to fourth place, XRP’s resurgence underscores its strong market position and potential for future growth.
WISDOMTREE'S XRP ETF FILING: A MAJOR STEP FOR XRP?
– Asset management firm, @WisdomTreeFunds has officially filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for a spot XRP Exchange-Traded Fund (ETF).
Key Highlights:
– If approved, the… https://t.co/xErIKNwgCS pic.twitter.com/x358psSz9Y
— BSCN (@BSCNews) December 2, 2024
With whales accumulating and institutional interest on the rise, XRP appears poised for further milestones in the evolving crypto landscape.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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