XRP Draws Renewed Whale Interest as Six Spot ETF Filings Pile Up

XRP has continued to draw significant interest from deep-pocketed investors as the Trump administration remains favorable to the crypto sector.

As the Trump administration continues to show support for the crypto sector, XRP has managed to capture the attention of deep-pocketed investors.

Despite XRP prices trading sideways for the past two months, these holders have been ramping up their accumulation, leading to a buying frenzy.

On Wednesday, popular crypto analyst Ali Martinez highlighted this trend in a tweet, revealing that “Whales bought 150 million XRP in the last 48 hours.”

This surge in accumulation coincides with the U.S. Securities and Exchange Commission (SEC) acknowledging three additional spot XRP ETF filings, bringing the total to six in just under two weeks.

On Wednesday, the SEC officially acknowledged three separate filings for spot XRP ETFs from asset managers WisdomTree, Canary Capital, and CoinShares, a crucial step in the effort to introduce institutional-grade XRP investment products.

According to the SEC’s statement, the agency has opened a public comment period to assess whether the applications comply with Section 19(b)(1) of the Securities Exchange Act 1934.

Investors and stakeholders have 21 days to submit feedback once the filings appear in the Federal Register. The commission then has up to 240 days to approve or reject the applications.

These latest filings come just days after the SEC acknowledged three similar XRP ETF applications from Bitwise, Grayscale, and 21Shares, signaling a potential shift in regulatory sentiment and an accelerating path toward spot XRP ETF approvals.

Meanwhile, the push for XRP ETFs extends beyond the U.S. According to sources, the Brazilian Securities and Exchange Commission (CVM) has approved the world’s first spot XRP ETF, with only a trading launch date pending.

Building on Marinez’s findings, the surge in ETF filings has reignited buying activity among large investors.

On Thursday, crypto analytics platform Santiment highlighted this trend in a tweet, emphasizing a significant rise in XRP accumulation among major holders.

“There are 261 more 100,000 XRP wallets than 10 weeks ago, a strong sign of confidence from key stakeholders,” the firm reported.

Despite a stagnant broader crypto market, XRP has maintained strong momentum, outperforming Bitcoin (BTC) in recent months, Santiment noted.

The XRP Ledger's market cap increased by 6% during the day, while XRP's price relative to BTC has risen by 297% since November 11, 2024.

Whales' and sharks' sustained accumulation indicates confidence in XRP's long-term trajectory, especially with the potential approval of a spot ETF on the horizon.

At press time, XRP was trading at $2.57, up 0.50% in the past 24 hours.