Recent data revealed that major holders of XRP tokens continue to increase their assets amid overall market weaknesses. It was reported that 340 million XRP were purchased over two weeks, totaling nearly $1 billion.
Accumulation of XRP by Whales
According to Santiment data, large wallets holding tens of millions of tokens purchased 340 million XRP within two weeks. This accumulation occurs despite the general weakness of the market, highlighting the interest of large players in this cryptocurrency.
Institutional Investors Join In
Not only anonymous wallets are active: Japanese gaming company Gumi announced a $17 million purchase of XRP for its corporate treasury. Additionally, Hyperscale Data confirmed plans to allocate part of its $125 million fundraising round into XRP alongside Bitcoin.
Market Infrastructure Expansion
Institutional demand is also observed in derivatives and ETFs. CME Group reported that XRP futures volumes exceeded $1 billion, and over a dozen firms have filed with the SEC for an XRP ETF, indicating rising confidence in this cryptocurrency.
Despite the seasonal weakness of the crypto market in September, the active actions of large holders, treasuries, and institutional investors may provide additional opportunities for XRP. If the demand continues to grow, this month could turn out to be positive for the token.
