Currently trading at $2.49, XRP has reached its highest price in over seven weeks. Whale activity and upcoming ETF decisions could influence the asset’s future trajectory.
Whale Activity in XRP
Over 2,700 wallets now hold more than 1 million XRP each, signaling renewed long-term interest from large investors. These addresses control approximately 47.32 billion XRP. The increase in whale activity coincides with expectations around key regulatory decisions that could change the asset's trajectory in the coming months.
XRP ETFs: Expectations and Upcoming Decisions
Several XRP-related ETF applications are currently pending review by the United States Securities and Exchange Commission. The first decision is expected on July 14, when ProShares plans to launch three XRP futures ETFs. Turtle Capital is preparing to introduce a leveraged XRP fund, and additional ETFs may roll out on July 25 if they receive SEC approval.
Legal Issues and Their Market Impact
The ongoing legal case between Ripple and the SEC continues to heavily influence investor sentiment. A complete dismissal of the case could significantly boost confidence in XRP and facilitate wider adoption. However, until a resolution is reached, legal uncertainty will continue to shape market behavior.
Altogether, the combination of increasing whale accumulation, pending ETF decisions, and legal factors places XRP in a critical position. While market participants are optimistic, much of XRP’s near-term direction will depend on how these events unfold in the coming weeks.
