Key Takeaways
- Millions of XRP have moved out of exchanges as speculation over a potential spot ETF approval grows.
- Price action suggests that a quick rally could occur only if XRP clears the key resistance level at $2.69.
- Following the approval of Solana (SOL) and Hedera (HBAR) ETFs, Canary filed an updated S-1 for its XRP spot ETF today.
Despite market uncertainty and the ongoing price dip, XRP accumulation continues to rise as anticipation builds around a potential spot Exchange-Traded Fund (ETF) approval. Today, derivatives platform Coinglass and blockchain tracker Whale Alert reported millions of dollars worth of XRP outflows from exchanges, signaling that the asset’s downside momentum may soon come to an end.
$90M XRP Whale Transfer Signals Strong Accumulation Trend
Whale Alert shared a post on X, noting that 36.48 million XRP tokens worth $90.64 million were moved from Kraken to an unknown wallet. Meanwhile, spot inflow/outflow data revealed that, over the past 24 hours, more than $45 million worth of XRP has flowed out of exchanges, hinting at potential accumulation.
In the crypto landscape, the outflow of tokens from exchanges to wallets indicates potential accumulation and suggests strong long-term potential.
XRP Price and Rising Trading Volume
The impact of this mass accumulation is evident in XRP’s price, which surged by over 3.85% today, according to TradingView data.
Meanwhile, investors and traders have also shown increased interest in the asset, resulting in a significant surge in trading volume during the same period. As per the latest CoinMarketCap data, XRP’s 24-hour trading volume jumped by 11% to $622 million.
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Key Drivers Behind the Renewed Market Interest in XRP
You might be wondering what is driving whales and investors to show such sudden interest in the asset despite weak market sentiment.
The key catalyst attracting their attention is the potential approval of a spot XRP ETF in the United States. In recent days, the U.S. Securities and Exchange Commission (SEC) has approved several Canary Capital spot ETFs, such as those for Solana (SOL) and Hedera (HBAR).
At the same time, Canary filed an updated S-1 for its XRP spot ETF today, removing the “delaying amendment” to enable automatic registration, with the launch date potentially set for November 13, 2025.
XRP Technical Outlook: Upcoming Levels to Watch
TimesCrypto’s technical analysis reveals that XRP remains in a downtrend, as the Supertrend indicator continues to show a red signal and remains above the asset’s price. Additionally, the Average Directional Index (ADX) value has reached 38.48, above the key threshold of 25, indicating strong directional momentum.
In addition to this technical analysis, the current price action suggests that XRP’s upward momentum and a potential rally could occur only if it clears the resistance level at $2.69. If this happens, the asset could see a significant price surge and may reach the $3.10 level.
However, bearish momentum and a sharp downward move could occur if the price loses support at $2.23. In that case, XRP could drop to the $2.00 level.
