XRP Whale Addresses Reach Record High in July Amid Growing ETF Hype

XRP’s price has entered its third consecutive week of gains, while on-chain data shows a rising number of XRP whales.

The surge in whale addresses aligns with a wave of large derivatives trades placing long positions. This indicates strong alignment among XRP traders.

XRP Whales Accumulate Aggressively, Now Holding Over 80% of Circulating Supply

According to an analysis from Santiment, the number of XRP whale addresses — those holding at least 1 million XRP — reached 2,743 on July 9. That marks a 9.7% increase since the beginning of the year and sets a new all-time high.

Collectively, these large wallets hold 47.32 billion XRP, accounting for over 80% of the circulating supply.

XRP Price and Number of XRP Whales Year to Date. Source: Santiment

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

This whale accumulation has continued even as XRP’s price dropped nearly 30% from its January high. Investors kept buying during the decline, signaling that current prices still offer value.

Positive sentiment is also emerging in the derivatives market. The decentralized exchange Hyperliquid has recently recorded several large long positions on XRP.

Additionally, BeInCrypto reported that many analysts expect XRP to form a “God Candle” — a sudden and powerful price surge — sometime in 2025.

July Becomes Crucial for XRP ETF Speculation

Another key factor fueling the XRP market in July is a series of deadlines for XRP-related exchange-traded funds (ETFs).

Nick, the founder of Web3Alert, pointed out that several XRP ETF applications face decision deadlines from the US Securities and Exchange Commission (SEC) this month. These include both spot and futures-based ETF products.

The SEC’s decisions could significantly shape the future of XRP trading in the United States.

A related data table shows that firms like ProShares, Turtle Capital, and Volatility Shares have XRP ETF products with July deadlines.

ProShares plans to launch three XRP ETFs on July 14: the Ultra XRP ETF, UltraShort XRP ETF, and Short XRP ETF. Turtle Capital and Volatility Shares also plan to launch funds on July 21, including 2x leveraged versions. Meanwhile, REX-Osprey is expected to file for its XRP ETF on July 25.

These events could create strong bullish pressure on XRP’s price. They also open doors for institutional investors to enter the market.

However, not everyone is optimistic. Some users on X (formerly Twitter) have suggested the deadlines might be delayed. They speculate that XRP ETFs could be pushed to Q4 2025.

Despite this, overall sentiment remains hopeful. Polymarket’s prediction markets show a 90% chance that an XRP ETF will be approved sometime in 2025.