TLDR
- Whale wallets have purchased 340 million XRP tokens in the past two weeks
- XRP currently trading around $2.8, testing key support level
- 15 spot XRP ETF applications have been filed with the SEC
- Japanese gaming giant Gumi and Hyperscale Data plan to add XRP to their treasuries
- CME’s XRP futures crossed the $1 billion mark in just over three months
The cryptocurrency market is witnessing major moves in XRP as institutional investors and whale wallets make significant purchases despite ongoing market uncertainty. While XRP currently trades around the $2.8 mark, large investors appear to be positioning themselves for future price movements by accumulating substantial token positions.
According to on-chain data from Santiment, whale wallets holding between 10 million and 100 million XRP have purchased 340 million tokens over the past two weeks. These large holders now possess approximately 7.84 billion XRP coins in total.
Analyst @ali_charts has been tracking these wallets and notes their consistent accumulation pattern. This behavior often suggests that major market players may have insights that haven’t yet been priced into the market.
Whales have bought 340 million $XRP in the last two weeks! pic.twitter.com/dQDLq1vkVW
— Ali (@ali_charts) August 31, 2025
CryptoQuant data confirms this trend, showing that wallets with at least 100,000 XRP have also been buying during the recent market dip.
XRP recently attempted to break the $3 level but couldn’t maintain that price point. Since then, open interest has decreased from over $3.5 billion, indicating a reduction in leveraged positions.
However, the price has remained relatively stable despite this decrease in futures activity, which points to strong spot buying pressure supporting current price levels.
Key Support Level Tested
The $2.8 mark represents a critical support level for XRP. If buyers can defend this zone, the token could make another attempt at breaking through the $3 resistance.
A successful breakthrough could see XRP target the $3.20 to $3.40 range. Conversely, if the $2.8 support fails, XRP might test the $2.60-$2.70 area before finding firmer ground.
Veteran trader Peter Brandt has expressed caution, suggesting the XRP/USD pair in the daily timeframe looks “potentially very negative.” Brandt believes XRP could drop to around $2.38 if buyers can’t maintain the $2.78 support level in the coming days.
The XRP/USD pair has been confined within a descending triangle pattern since reaching its all-time high on July 18, 2025. The token declined 6.7% over the past seven days to retest the crucial $2.8 support level.
Institutional Interest Grows
Corporate interest in XRP has increased following regulatory clarity in the United States. The US Court of Appeals recently approved the joint dismissal of appeals made by the Securities and Exchange Commission and Ripple Labs.
Japanese gaming company Gumi announced plans to acquire approximately $17 million worth of XRP for its treasury management. Hyperscale Data (NYSE: GPUS) also revealed intentions to raise up to $125 million through selling common shares to purchase Bitcoin and XRP.
The derivatives market for XRP is showing strength as well. CME Group reported that its XRP futures crossed the $1 billion mark, becoming the fastest of its products to reach this milestone in just over three months.
Institutional interest is further evidenced by the 15 spot XRP ETF applications filed with the SEC. On August 29, Amplify ETFs filed to list and offer the Amplify XRP Monthly Option Income ETF.
Steven McClurg, CEO of Canary Capital, stated that XRP is second only to Bitcoin in Wall Street recognition. According to XRP community member John Deaton, if approved, spot XRP ETFs could evolve to earn yields through the Flare network.
The current market structure for XRP shows decreasing speculative activity but continued accumulation by larger investors. This pattern has historically preceded sustainable price movements once market sentiment catches up to institutional positioning.
XRP’s recent price action has dropped 6.7% over the past week to test support at $2.8.
The post XRP (XRP) Price: Whale Wallets Add 340 Million Tokens in Two-Week Buying Spree appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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