XRP Whales Accumulate Amid 65% Price Plunge, Regulatory Vote Looms

XRP's price has been struggling to recover from its January high, dropping over 65% in value. In contrast, large holders have been accumulating XRP at a rate of over 10 million units per day, indicating strong whale interest.

The recent collapse of weekly ETF inflows by 93% to just $1.01 million is a worrying trend for XRP's prospects. However, the upcoming Senate vote on the CLARITY Act on September 15 could provide regulatory clarity and boost demand for XRP if it passes.

The passage of the CLARITY Act would classify XRP as a commodity, potentially stabilizing its price. However, with low odds of passing, XRP's recovery depends on sustained ETF inflows and the growth of stablecoin RLUSD driving demand back to the asset.