XRP Surges 6% Following Brazil Approval of First Spot ETF

XRP outperforms major cryptocurrencies with a 6% price jump, reaching $2.71. The rally follows Brazil approval of the first spot XRP ETF and increased whale accumulation, boosting market confidence.

XRP Outperforms Its Rivals as Market Rebounds

The cryptocurrency market has witnessed a modest recovery over the past 24 hours, with Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and other major assets recording slight gains. However, among the top 20 cryptocurrencies, Ripple’s XRP stands out as the best performer, climbing 6% in a single day.

According to data from CoinGecko, XRP surged to a local high of $2.74 before stabilizing at $2.71, making it one of the few assets showing significant momentum in an otherwise slow market.

One of the key drivers behind this price increase is Brazil’s landmark approval of the world’s first spot XRP exchange-traded fund (ETF), a move that could signal broader institutional adoption. Additionally, whale accumulation of over 150 million XRP tokens has further strengthened the bullish sentiment surrounding the asset.

Brazil Approves World’s First Spot XRP ETF

Brazil has taken a major step forward in the crypto investment landscape by approving the first-ever spot XRP ETF. The country’s securities regulator, the Comissão de Valores Mobiliários (CVM), has given the green light for the investment vehicle, allowing investors to gain exposure to XRP without directly purchasing the token from exchanges or managing self-custody solutions.

The approval represents a significant milestone for institutional adoption, as ETFs provide a regulated and simplified way for investors to participate in the crypto market. Brazil has been one of the most crypto-friendly economies, with a growing demand for blockchain-based assets.

The move also puts pressure on regulators in the United States and Europe. Several investment firms, including Grayscale, Bitwise, and 21Shares, have filed applications with the U.S. Securities and Exchange Commission (SEC) for an XRP ETF. While the SEC has acknowledged these filings, a final decision is still pending. The approval of a similar product in the U.S. could lead to further institutional capital flowing into XRP, potentially driving its price even higher.

Whales Fuel XRP Rally with Massive Accumulation

Another key factor behind XRP’s latest price surge is the increased activity of large investors, commonly referred to as whales. In just 48 hours, whales accumulated over 150 million XRP tokens, worth nearly $400 million.

This massive buying activity reduces the circulating supply of XRP, creating upward pressure on the price, provided demand remains consistent. Historically, such movements by institutional and high-net-worth investors have often preceded major price rallies, as smaller traders tend to follow suit, adding further momentum to the uptrend.

Blockchain analytics firm Santiment has also highlighted that the number of XRP whales and sharks (wallets holding more than 100,000 XRP) has grown by 261 addresses in the past 10 weeks. This steady accumulation suggests that large investors remain confident in XRP’s long-term growth, despite the asset’s price volatility.

What’s Next for XRP?

With Brazil leading the way in institutional adoption and the possibility of an XRP ETF in the U.S., the asset could continue its bullish momentum in the coming months. If whale activity remains strong, XRP could see further gains as the circulating supply decreases.

However, traders should keep an eye on macroeconomic factors and potential regulatory hurdles in key markets, as these could introduce short-term volatility. If the SEC takes a more favorable stance on crypto ETFs, XRP could see another leg up toward new all-time highs.

For now, the combination of institutional backing, whale accumulation, and regulatory advancements has positioned XRP as one of the top-performing assets in the current market cycle.

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