With the anticipated release of the U.S. crypto policy, whales are making bold bets on XRP, which may indicate a shift in the regulatory landscape for digital assets.
XRP Bets and Whale Accumulation
Over $25 million in long positions have been placed on XRP, demonstrating the confidence of major investors in the asset's future. Analysts indicate that XRP is breaking out of a bullish pennant pattern after overcoming the $3.66 resistance. Price expectations suggest a rise to $5.96 amid continued demand and positive momentum.
Blockchain data indicates that as of July 27, whales accumulated about 310 million XRP tokens during a brief market dip, increasing their total holdings to 23.86 billion XRP in just one day.
Impact of White House Policy
The timing of this accumulation closely aligns with the upcoming release of the U.S. government's 180-day crypto policy, which could significantly alter regulatory functions, granting more power to agencies like the SEC and CFTC. Market participants are keenly observing whether XRP will be included among federal holdings alongside Bitcoin and Ethereum, which could enhance its institutional appeal.
Ripple has also recently been granted a patent for an instant cross-border payment solution, potentially increasing XRP’s usage in financial transactions.
Spike in Funding Rate and Bullish Sentiment
Data from Coinglass indicates a sharp spike in XRP’s funding rate in mid-July, coinciding with a rise in prices and whale accumulations, thus suggesting traders are paying to open long positions. Expectation of regulatory changes is mirrored in the surge in funding rates, indicating greater conviction.
Considering strong technical indicators and rising institutional accumulation, whales are betting on favorable outcomes from the anticipated White House report that could push XRP into a new phase of growth.
Signals of increased whale activity and rising funding rates suggest a strong confidence in XRP as a potential key player in the market, especially in light of expected regulatory changes.
