**XRP Whale Wallets Reach Record High Amid Market Volatility**
Recent data reveals that the number of XRP whale wallets—those holding at least 10,000 XRP—has reached an unprecedented record of approximately 317,500 as of October 18. This surge comes during heightened market volatility, signaling strong accumulation by mid- to large-tier investors despite broader crypto market uncertainty.
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**XRP Price Rebounds After Dip**
XRP experienced a price drop to $2.25 on October 17 but quickly rebounded to $2.38 within 24 hours. Market analysts suggest that the growing count of large XRP wallets indicates investors are taking advantage of price corrections to accumulate tokens. This pattern aligns with previous trends observed since XRP surpassed the $1 mark in November 2024.
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**Decline in XRP Futures Open Interest**
While whale wallet numbers climb, open interest in XRP futures has declined sharply to $3.49 billion—the lowest level since June 2024, according to CoinGlass. This drop in leveraged positions may denote a shift from speculative trading towards more cautious, long-term investment strategies. Lower open interest often precedes price recoveries and contributes to reduced volatility, fostering a more stable market environment for accumulation.
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**Ripple’s Strategic Moves Bolster XRP Outlook**
Ripple’s corporate strategy appears to be reinforcing XRP’s recent recovery. The company is reportedly developing a $1 billion Digital Asset Treasury (DAT) designed to manage XRP reserves. Over the last two years, Ripple has invested roughly $3 billion in acquiring financial firms such as Metaco, Hidden Road, Rail, and GTreasury. These acquisitions aim to expand Ripple’s financial infrastructure and enhance support for XRP as well as its RLUSD stablecoin.
By building a more integrated finance stack, Ripple is strengthening its position within the digital payments ecosystem, attracting increased interest from investors focused on the long-term utility of XRP.
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**XRP ETF Speculation Fuels Market Optimism**
Adding to the momentum is growing speculation around the potential approval of an XRP-based exchange-traded fund (ETF). Although not yet confirmed, reports indicate that the U.S. Securities and Exchange Commission (SEC) may soon review applications for XRP ETFs. This has sparked a wave of leveraged ETF product filings tied to XRP, reflecting heightened investor demand for regulated exposure to the token.
Institutional interest in XRP is rising as expectations grow for the introduction of such investment products, further contributing to XRP’s renewed market vigor.
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**Conclusion**
Despite ongoing volatility and uncertainty in the wider crypto market, XRP is demonstrating a strong recovery supported by record whale wallet accumulation, declining speculative futures activity, Ripple’s proactive corporate initiatives, and ETF-related optimism. Collectively, these factors point to growing confidence among larger investors and a potentially positive outlook for XRP in the months ahead.
https://coincentral.com/xrp-whale-count-hits-all-time-high-amid-market-turmoil/
