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Widely followed crypto commentator Oscar Ramos has warned market participants that going all-in on $XRP should be a priority.
He suggests that investors should view $XRP not just as an option, but as a must-have in their portfolios as the crypto market turns bullish again.
Just yesterday, Bitcoin reached a new all-time high, confirming a peak price of $112K. This upward momentum has significantly boosted the altcoin market, with $XRP emerging as one of the top beneficiaries.
Ripple will also leverage BNY’s transaction banking services to streamline its operations. This partnership follows the Federal Reserve’s rollback of anti-crypto policies, allowing banks to engage with crypto assets without needing prior approval.
Meanwhile, Ripple is actively working to expand $RLUSD adoption by applying for a national bank charter and a Federal Reserve master account. $RLUSD recently surpassed TrueUSD to become the eighth-largest stablecoin, with a market cap exceeding $500 million.
$XRP supporters view $RLUSD’s integration as bullish for $XRP, given that the stablecoin runs on the $XRP Ledger and uses $XRP to pay transaction fees.
ETF Developments
$XRP proponents are also optimistic about the token’s prospects on the ETF front, as July is shaping up to be a pivotal month. Multiple futures-based $XRP ETF proposals are set to launch this month.
ProShares plans to introduce three $XRP futures ETFs by July 14, offering leveraged exposure to $XRP’s daily performance. Turtle Capital’s 2X Long $XRP ETF is also launching on July 21, the same day Volatility Shares plans to debut two $XRP ETFs.
While the SEC has approved several futures-based $XRP ETFs, it has yet to greenlight any spot versions. Currently, over 10 spot $XRP ETF applications remain under review.
Whales Accumulating $XRP to All-Time Highs
Amid these bullish developments, whales are positioning themselves accordingly. According to the latest update from Santiment, the number of wallets holding at least one million $XRP is nearing an all-time high.
As of now, there are 2,742 such wallets, just one shy of yesterday’s record of 2,743. Collectively, these large holders control a staggering 47.32 billion $XRP. This growing accumulation signals strong confidence from major investors in $XRP’s long-term potential.
$XRP Price Reacts
This trend of accumulation is already being reflected in $XRP’s price. The token has reached its highest price level in seven weeks, currently trading above $2.40.
The last time $XRP was at this level was in May. At press time, $XRP is trading at $2.45, up over 5% on the day.
Ramos’s suggestion that going all-in on $XRP should be a priority is a warning to investors not to miss out on the next wave. Recall that $XRP defied expectations in the last quarter of 2024, leaving critics in regret after the coin delivered a 7x return.