XRP Whale buys 900 million, triggering ETF fever, BTC surges to $114,000!

XRP rose 3.18% to $2.95 in 24 hours driven by optimistic sentiment around the ETF and whale buying, outperforming the broader crypto market. On-chain data shows that whales absorbed 900 million XRP in the past 48 hours, marking the largest single transaction volume since June of this year. Meanwhile, Bitcoin (BTC) remains steady at $114,000 amid cautious market sentiment, with investors following The Federal Reserve (FED) Chairman Powell's speech at the Jackson Hole seminar.

XRP Whale buying pressure releases bullish signals

In the past two days, XRP Whale activity has significantly increased, accumulating 900 million XRP, indicating that expectations for the approval of a spot ETF are rapidly warming.

The market generally believes that if the U.S. Securities and Exchange Commission (SEC) approves the XRP spot ETF, it will serve as an important catalyst for driving the price to break through. The possibility of Ripple obtaining a U.S. chartered bank license and the U.S. Treasury accelerating the adoption of XRP as a treasury reserve asset further enhances bullish confidence.

ETF Approval Progress and Market Impact

The SEC has recently coordinated with multiple exchanges to advance the standardization framework for cryptocurrency ETFs. The Chicago Board Options Exchange (CBOE), Nasdaq, and the New York Stock Exchange have all submitted 19b-4 documents, and if approved, it will accelerate the listing process for the XRP spot ETF.

Market news indicates that BlackRock may launch the iShares XRP Trust under this framework to avoid the lengthy approval delays seen in the past.

XRP Price Outlook: $5 as a Potential Target

(Source: Trading View)

Bullish scenario: If the ETF is approved, Ripple obtains a banking license, the adoption rate of U.S. Treasury assets increases, and legislative support for the CLARITY Act is established, XRP is expected to break through the historical high of $3.6606 and move towards $5.

Bearish scenario: If legislation is blocked, the OCC denies bank licenses, ETF approvals are delayed, or SWIFT retains its dominance in global remittances, XRP may drop back to $2.7254, and even test the $2.5 support level.

BTC stabilizes at 114,000 USD ETF fund flow under pressure

Bitcoin rose 1.27% on August 20, closing at $114,306, partially recovering from the previous day's decline. However, the U.S. BTC spot ETF market recorded net outflows for four consecutive days, with a single-day outflow of $523.3 million on August 19, marking the second largest scale this month.

The main outflows come from the ARK 21Shares Bitcoin ETF (ARKB), Grayscale Bitcoin Trust (GBTC), and Fidelity Origin Bitcoin Fund (FBTC). The market is following the fund flows of BlackRock iShares Bitcoin Trust (IBIT) to determine whether it can break the trend of continuous net outflows.

BTC Price Outlook: Key Factors are The Federal Reserve (FED) and Legislation

(Source: Trading View)

Bullish Scenario: If the "Clarity Act" gains bipartisan support, U.S. economic data improves, the Federal Reserve (FED) sends dovish signals, and ETF funds flow back in, BTC is expected to challenge its historical high of $123,731.

Bearish scenario: If legislation is obstructed, inflation risks rise, the Federal Reserve releases hawkish signals, and ETF funds continue to flow out, BTC may drop below 110,000 USD and test the psychological support level of 100,000 USD.

Conclusion

XRP is showing strong rebound momentum driven by the dual push of the ETF craze and whale buying, while BTC remains stable at high levels amid macro uncertainties. Going forward, the progress of ETF approvals, The Federal Reserve (FED) policy stance, and legislative dynamics will be the key factors influencing the trends of these two major assets. For more real-time market data and on-chain analysis, please follow the official Gate platform.