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# Acquisition of XRP on a Gigantic Scale Indicates a Possible Increase in Price: $464 Million Invested
* Investors with significant capital are accumulating XRP.
* The SEC’s subsequent action could be the determinant to releasing XRP’s price capability.
* According to cryptocurrency market observers, do not anticipate a substantial price increase immediately.
According to a report from the cryptocurrency analysis firm Santiment, XRP whales have acquired an astounding $464 million worth of the token this week.
This represents the second significant XRP purchasing binge this month, following a shopping spree of over $700 million in early March. Home Construction Companies Encounter Growing Expenditures: Levies Might Increase the Cost of a New Dwelling by $9,200
While the price has not yet skyrocketed, market specialists believe that a catalyst for substantial gains is on the near horizon.
Osama Bari, CTO of D24 Fintech Group, posits that if the SEC dismisses its lawsuit against Ripple and an XRP ETF receives approval, the price may not only recover but also potentially attain new record highs.
The SEC’s regulatory measures against Ripple, the company responsible for XRP (intended for international payments), have impeded its price.
Investors appear to be wagering that a positive result in the SEC case could propel XRP upward.
Contributing to the optimism is the prospect of more extensive regulatory modifications under a prospective Trump administration.
The SEC has recently suspended or abandoned enforcement actions against cryptocurrency firms such as Consensys and Uniswap Labs, fueling conjecture that Ripple might be next.
In the meantime, the SEC is also assessing five applications for XRP ETFs, which are part of a broader trend of altcoin ETF proposals.
A conclusive determination is anticipated by the middle of October.
JPMorgan anticipates that an XRP ETF could attract up to $8 billion in investor capital within a year.
In spite of the optimistic indicators, the majority of market participants only foresee modest short-term price increases for XRP.
Information from Polymarket indicates a considerable decrease in the probability of XRP achieving a record high during the initial six months of this year, falling drastically from an original 90% to merely 29%.
Nevertheless, dealers on Polymarket are somewhat more hopeful regarding the extended period, predicting a 42% possibility of XRP attaining a fresh summit in 2025. This signifies an increase from Sunday’s judgment of just 24%.
**Overview of the Digital Currency Arena:**
* Bitcoin has risen marginally, increasing by 0.2% to exchange at $83,153.
* Ethereum has decreased slightly, declining 1% to approximately $1,906.
**Stories Attracting Our Interest:**
* The director of the French national bank cautions that Trump’s acceptance of digital currency could be a formula for an economic collapse (through *DL News*).
* A brief summary of the week’s disregarded digital currency updates (through *Milk Road*).
* Binance US administrators were apparently taken by surprise by accounts of the Trump family’s assets (through *Unchained*).
* Is a digital currency downtrend approaching? (through *Milk Road*)
* A youthful group in Texas is charged with stealing a Twitch broadcaster for their digital currency (through *DL News*).
*Osato Avan-Nomayo, our DeFi reporter in Nigeria, reports on DeFi and technology. Have a suggestion? Contact him at [email protected].*
