XRP Bulls Accumulate the Dip as Polymarket Traders Bet on SEC ETF Approval in 2025

XRP, the native cryptocurrency of the decentralized blockchain created by Ripple Labs, remains in a consolidation phase as top peers like Solana, Polkadot, and Cardano fall by double digits.

Ripple (XRP) price seems poised for a breakout as top peers like Solana, Polkadot, and Cardano correct sharply.

XRP price steadies after a 10% drop from 2024 highs. Still, key fundamental and technical catalysts could propel the coin in the next few months.

XRP whale activity picks up

Whale accumulation is a crucial bullish indicator for cryptocurrencies, as these investors are known for their large capital and market insights. Recent data indicates that XRP whales have been actively accumulating the coin as broader sentiment in the crypto industry turns sour.

Ali Martinez, a prominent crypto investor, highlighted this trend using Santiment data, showing that these whales purchased 1 billion XRP tokens in the last 48 hours — a sign that they are bullish on the coin.

“Whales bought roughly 1 billion $XRP in the last 48 hours!”

Polymarket traders are also optimistic that the Securities and Exchange Commission will approve a spot XRP exchange-traded fund (ETF) in 2025. A small pool with $5,000 in assets places the odds of this approval at 68%. Another pool with $30,000 places the odds of a Ripple ETF being approved by July 31 at 51%.

These hopes have been growing after Donald Trump won the election and promised to be a more crypto-friendly president. He has nominated Paul Atkins to be the next SEC chair and started to create his artificial intelligence and crypto council.

Crypto ETFs have become wildly popular among investors, with the ProShares Bitcoin ETF having over $2.3 billion in assets, and spot Bitcoin ETFs attracting over $36 billion in inflows. Bitcoin ETFs have over $107 billion in assets, while Ethereum ETFs have $11.6 billion.

Besides XRP, crypto investors are also betting on the potential approval of Solana, Hedera Hashgraph, and Chainlink ETFs.

XRP price has bullish technicals

Finally, XRP has also formed strong technicals that could be set to push its price substantially higher in the next few weeks.

The daily chart shows that XRP has been forming a bullish pennant pattern, which is one of the most powerful continuation patterns in trading. The lower trendline of this pennant was at $0.4913, and the triangle pattern has been forming since December. A bullish breakout usually occurs when the two lines of a triangle come close to each other.

XRP has been holding above the 50-day moving average, and the MVRV indicator has dropped to 2.5, suggesting that the coin is undervalued. As such, the initial levels to watch will be the Murrey Math Lines’ extreme overshoot point, followed by the 2024 high at $2.90 and then the psychological level at $3.