A significant wave of buying activity has pushed into XRP as large wallet holders accumulated approximately 1.54 billion XRP worth close to $2.2 billion over a four-day period. The accumulation coincided with short sellers reducing their positions on Hyperliquid, with one trader cutting their bet against the token nearly in half by purchasing back 450,000 XRP.
Institutional interest remains steady despite recent price softness. CoinShares increased its XRP holdings to 148.66 million from 129.75 million since December, according to an SEC filing. Franklin Templeton clients also added approximately $1.5 million worth of XRP during the same period.
South Korean exchanges have shown particularly strong demand. On Upbit, XRP became the most traded cryptocurrency with $183.8 million in daily trading volume—more than 10% of all exchange activity and more than double Bitcoin's trading volume on the platform.
Utility expansion continues on the XRP Ledger. Ondo Finance launched OUSG, a tokenized US Treasury fund, directly on the network using Ripple's RLUSD stablecoin for deposits and withdrawals, marking the first instance of government debt settling on XRP's blockchain. A technical proposal called Permission Delegation, which would allow accounts to grant limited access rather than full control, is nearing approval with only three votes remaining.
The Volatility Shares 3x leveraged XRP ETF launch has been postponed to October 18, though the regulatory filing remains active. An independent energy audit confirmed XRP consumes 0.00002 kWh per transaction with minimal direct emissions.
The accumulated buying pressure now faces a resistance zone between $1.49 and $1.54 that has previously rejected XRP advances. A sustained close above this level could open further upside potential, while rejection could result in consolidation around support levels at $1.30, $1.20, and $1.10.
