XRP Whale Activity Hits 10-Year High as ETF Deadlines Loom

Recent on-chain data from CryptoQuant reveals a dramatic surge in activity from XRP whale addresses, with the metric tracking wallets moving large amounts of XRP reaching its highest level since 2015. This unprecedented whale transaction volume has been climbing steadily since late 2023, occurring while XRP’s price has remained relatively stable around $2.77. The pattern of significant accumulation during sideways price movement has historically preceded powerful upward moves in XRP’s price trajectory.

Market analyst Mikybull Crypto highlighted the significance of this development, stating: “Wow! The most aggressive $XRP accumulation is going on right now. This is massively bullish.” The current whale activity represents the most aggressive accumulation phase witnessed in nearly a decade, suggesting institutional or large-scale investors are positioning themselves for potential market movements.

Technical analysis reveals two compelling patterns that mirror setups preceding previous XRP price surges. Mikybull Crypto’s charts show XRP forming a descending channel nearly identical to the pattern that appeared in mid-2024, which preceded XRP’s dramatic rise from below $0.6 to nearly $3.6. The current formation shows remarkable similarity to this previous setup that triggered substantial price appreciation.

Complementing this pattern, Bitcoinsensus has identified a bull flag formation on daily charts. This technical structure, characterized by a sharp price rise followed by consolidation in a downward-sloping channel, shows XRP repeatedly bouncing off the same support zone while facing rejection at consistent resistance levels. Bitcoinsensus suggests that if this pattern plays out similarly to earlier formations, XRP could break above the $4 mark for the first time.

Notably, both analysts’ charts include the phrase “XRP is dead” placed near past lows, highlighting how bearish market sentiment has historically appeared just before significant price surges. This psychological element adds context to the current technical setup and whale accumulation patterns.

The XRP market faces a crucial regulatory milestone as the SEC prepares to respond to six XRP ETF proposals between October 18 and November 14, 2025. The applications come from major financial firms including Grayscale, 21Shares, Bitwise, Canary Capital, WisdomTree, and Franklin Templeton, representing significant institutional interest in XRP exposure.

This regulatory window coincides with the launch of the first XRP ETF this year, REX-Osprey’s XRPR, which began trading on September 18. The convergence of multiple decision deadlines creates a potentially transformative period for XRP’s market structure and institutional adoption.

Crypto lawyer Bill Morgan has raised important questions about risk disclosures in ETF documentation, particularly noting that the Cyber Hornet S&P500/XRP ETF explicitly mentions “manipulation by XRP whales” as a market risk. Morgan emphasized that “if an institutional applicant for an ETF acknowledges the risk of whale manipulation, then it should be considered a real risk,” highlighting the significance of current whale activity in regulatory considerations.

The combination of record whale activity, bullish technical formations, and impending regulatory decisions creates a potentially explosive scenario for XRP. Historical precedents show that similar patterns of whale accumulation during price consolidation have frequently preceded substantial market moves, while the technical setups currently identified have previously resulted in price increases of several hundred percent.

The current market conditions reflect a convergence of multiple bullish factors: unprecedented whale transactions indicating strong accumulation, technical patterns that have historically preceded major rallies, and a regulatory calendar that could bring significant institutional validation through ETF approvals. With XRP trading around $2.77 at press time, market participants are closely watching for breakout signals from the current trading range.