Large XRP wallets accumulated around 1.54 billion XRP, worth nearly $2.2 billion, over four days, while short-side positioning also weakened. The buying came as a trader on Hyperliquid repurchased 450,000 XRP, cutting the size of the short position nearly in half.
The accumulation adds to other signs of continued demand for XRP. CoinShares reported in an SEC filing that its XRP holdings increased to 148.66 million XRP, up from 129.75 million in December, while Franklin Templeton clients purchased around $1.5 million worth of XRP.
Institutional and market activity is also being accompanied by developments across the XRP ecosystem. Volatility Shares delayed the launch of its 3x leveraged XRP ETF to October 18, while the filing remains active. On Upbit, XRP recorded $183.8 million in daily trading volume, making it the exchange's most-traded coin and accounting for more than 10% of its total trading activity.
Meanwhile, Ondo Finance launched OUSG, its tokenized U.S. Treasury fund, directly on the XRP Ledger. The product uses Ripple's RLUSD for deposits and withdrawals, bringing tokenized government debt settlement onto the network.
A separate Permission Delegation proposal also moved closer to approval after receiving 15 new yes votes in 10 days. The proposal is now three votes away from approval and would allow XRP accounts to grant limited access rather than full control. Wormhole is set to receive limited access to Ripple's RLUSD account, while the feature could also support projects such as Flare and restricted access for corporate compliance teams.
An independent energy audit conducted through Bitvavo also confirmed XRP's reported energy efficiency, with the network using approximately 0.00002 kWh per transaction and recording virtually zero direct emissions.
Despite these developments, XRP is approaching a key resistance zone between $1.49 and $1.54, an area that has rejected the token multiple times. A break above the zone followed by a sustained close could open the way for further upside, while another rejection would leave $1.30, $1.20, and $1.10 as the next levels highlighted in the source.
The key focus now is whether the recent accumulation and reduced short exposure can carry XRP through the $1.49–$1.54 resistance zone.
