$XRP Whale Buys Spark Market Hopes Amid Resistance Zone Looming

A significant $XRP whale has been buying up large amounts of the token over the past week, with around 1.54 billion tokens changing hands in just four days, worth approximately $2.2 billion at current prices.

This massive buy spree comes as short sellers are stepping back from their bets against the token, with one trader on Hyperliquid reducing their position by nearly half after buying back 450,000 $XRP.

Fund managers CoinShares and Franklin Templeton's clients have also continued to accumulate $XRP holdings in recent times, despite a softening price environment. CoinShares now holds 148.66 million $XRP, up from 129.75 million in December.

The launch of Volatility Shares' 3x leveraged $XRP ETF has been pushed back to October 18, but this is seen as a delay rather than an outright cancellation.