XRP Whale Activity Soars: Will XRP’s Rally Continue as BTC Hits New High?
Regulatory Developments in Digital Commodities and Ripple Case Update
The Senate Committee on Agriculture, Nutrition, and Forestry has scheduled a hearing for July 15, focusing on the perspectives of stakeholders regarding federal oversight of digital commodities.
In a related development, the House of Representatives is set to deliberate on the CLARITY Act, officially known as the Digital Asset Market Clarity Act of 2025 (H.R.3633), next week, which has been dubbed ‘Crypto Week.’
SEC’s Decision on Ripple Case Appeal: What to Expect
Attention will shift back to the Ripple case on July 10, as the SEC prepares for its second closed-door meeting following Judge Analisa Torres’ dismissal of the parties’ request for an indicative ruling on settlement terms. A favorable vote to withdraw the appeal concerning the Programmatic Sales of XRP could allow both Ripple and the SEC to file motions to dismiss with the US Court of Appeals, potentially leading to a resolution of the case.
The evolving regulatory environment and growing optimism regarding the SEC’s possible withdrawal have increased demand for XRP. Market Intelligence platform Santiment noted that XRP’s market value reached a seven-week peak, surpassing $2.39 for the first time since May 23. They highlighted the increasing number of whale wallets holding at least 1 million XRP, which now totals 2,742—just one shy of the previous all-time high of 2,743. Collectively, these wallets hold 47.32 billion XRP, indicating strong confidence in the future of the fourth-largest cryptocurrency by market cap.
XRP Price Forecast: Key Factors to Watch
On July 9, XRP experienced a 4.03% increase, following a 1.74% rise the previous day, closing at $2.4056. This performance outpaced the broader cryptocurrency market, which saw a 2.64% gain, bringing the total market capitalization to $3.42 trillion.
The short-term price trajectory for XRP will largely depend on the SEC’s upcoming vote, the advancement of the CLARITY Act, and developments regarding a US XRP-spot ETF.
A breakout above the July 9 high of $2.4285 could pave the way for a retest of the May peak at $2.6553. Should XRP sustain movement above this level, bulls may aim for the $3 mark and the 2025 high of $3.3999. Conversely, a decline below $2.3 could lead to testing the 50-day EMA and the critical support level at $2.2.
