The XRP community has remained bullish and supportive of the Ripple ecosystem amid the ongoing crypto market’s midterm uncertainty. On-chain data analysis shows Ripple whales have been purchasing more XRP coins during the past two weeks, even though the fear of further crypto capitulation remains palpable.
XRP Whales Buys The Dip
According to on-chain data analysis from Santiment, Ripple whales, with an account balance of between 10 million and 100 million, have remained confident of XRP’s macro bullish outlook. During the past two weeks, the cohorts in this group purchased 340 million Ripple coins, thus currently holding about 7.84 billion coins.
On-chain data analysis from CryptoQuant shows XRP wallets, with a balance of at least 100k Ripple coins, have also been buying during the recent market dip. The renewed demand for spot XRP has also coincided with the notable volume for its futures market. Earlier this week, CME Group reported that its XRP futures crossed the $1 billion mark, and were the fastest of its kind to do so in just over three months.
Corporate Investors Join the Ripple Wagon
The demand for XRP has also been recorded with corporations following Ripple’s regulatory clarity in the United States. As Coingape reported earlier this month, the U.S. Court of Appeals approved the joint dismissal of the appeals made by the Securities and Exchange Commission alongside Ripple Labs.
Earlier this week, Japanese gaming giant Gumi announced its plans to acquire XRP valued at 2.5 billion Japanese yen, which is approximately $17 million, for its treasury management. On Saturday, Hyperscale Data (NYSE: GPUS) announced its plans to raise up to $125 million, through selling its common shares, to buy Bitcoin (BTC) and Ripple coins.
Spot ETF Hype Gains Momentum
On Saturday, August 31, Steven McClurg, CEO of Canary Capital, stated that XRP is only second to Bitcoin in Wall Street’s recognition. Moreover, 15 fund managers have filed with the U.S. SEC to offer spot XRP ETFs.
On August 29, Amplify ETFs filed with the U.S. SEC to list and offer Amplify XRP [ ]% Monthly Option Income ETF. According to veteran XRP community member, John Deaton, the spot XRP ETFs market will evolve if approved to earn yields through the Flare network.
Bullish Structure or Market Top Formation?
The XRP/USD pair has been trapped in a descending triangle since hitting its all-time high on July 18, 2025. The large-cap altcoin dropped 6.7% during the past seven days to retest a crucial support level around $2.8 during the past three days.
Earlier this week, veteran trader Peter Brandt cautioned crypto investors that the XRP/USD pair, in the daily timeframe is ‘potentially very negative’. Brandt opined that the XRP price will likely drop to the support level around $2.38 if the buyers fail to defend the support level around $2.78 in the coming days.
However, Ripple investors have been anticipating a macro bullish breakout as the altcoin gains regulatory clarity in the U.S. amid renewed demand from institutional investors.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
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