As we progress into July, XRP is experiencing increased investor interest. The interest is majorly highlighted by an increase in whale holdings and budding enthusiasm around the approval of XRP exchange-traded funds (ETFs). Whales, wallets that possess at least 1 million tokens, have also hit a record high. This metric reinforces market sentiment despite the price sitting 30% down from its January 2025 peak. 

XRP is also in a three-week price rally bolstered by an increase in the ETF approval hopes. Although certain investors are wary of regulatory delays, the general market outlook seems to be bullish. 

Whale Wallets Accumulate Over 80% of XRP Supply

According to a report by on-chain analytics platform Santiment, the addresses with balances of at least a million XRP increased to 2,743 on July 9. This marks a 9.7% surge since January and is the highest ever recorded. Additionally, the total amount of XRP in these wallets is now 47.32 billion XRP, or more than 80% of all the coins in circulation. 

https://twitter.com/santimentfeed/status/1943017401009713342

Analyzing these holdings, Santiment analyst Brianq pointed out that this indicates a further interest in the long-term future of XRP. Whales even continued to acquire more tokens despite the price decline in the first half of the year. 

“These 1 million+ wallets collectively hold 47.32 billion XRP, as they continue to show confidence in the #4 market cap’s future,” Brianq noted.

The sustained buying has occurred even after XRP dropped by nearly one-third from its early-year highs. Such behavior typically signals that larger investors see long-term value at current prices and are positioning early for a potential future rally. 

ETF Speculation Grows Ahead of Key July Deadlines

The U.S Securities and Exchange Commission is already reviewing several XRP-based ETFs with some deadlines for approval of some of them approaching. According to a summary shared by Crypto Potato on X on July 10, firms such as ProShares, Turtle Capital, and Volatility Shares have products awaiting regulatory response. These include spot ETFs and leveraged futures products.

The crypto community expects ProShares to launch three Ripple-focused ETFs on July 14. These include the Ultra XRP ETF, UltraShort XRP ETF, and Short XRP ETF. Turtle Capital and Volatility Shares are next in line, with an expected launch date of July 21 offering 2x leveraged funds. 

“10+ spot $XRP ETF filings still pending – final SEC call due by October. $XRP’s ETF moment may be closer than ever,” Crypto Potato wrote. 

The approval of such products would mark a turning point for the Ripple-backed token, enabling additional institutions to have access to the product and enhancing its liquidity. Nevertheless, not all community members are optimistic. Some community members are cautious suggesting that the SEC may drag decisions to Q4 2025. 

In spite of this, predictions on Polymarket indicate a 88% chance that the SEC could approve one or more XRP ETFs by the end of 2025. However, the odds for a Ripple ETF approval by July 31 have dropped by 44% to only 9%. 

Whale-buying and the developing institutional interest in XRP may be setting up the cryptocurrency for a breakout. At the moment, XRP is trading at $2.42, up by over 2.35% on the day, as per CoinMarketCap data.