Ripple's XRP has seen a surge in market strength and buyer optimism in the spot market, indicating a positive trend amidst broader cryptocurrency volatility.
Traders are showing increased confidence in the spot premium market, with a growing interest in trading XRP at higher levels, showcasing strong demand driving XRP market movement.
Glassnode's report reveals a rise in addresses holding minimum 10,000 XRP coins, with large whales accumulating coins despite market fluctuations, signaling long-term market confidence.
Anticipation for approval of a Spot XRP ETF is high, with a 78% probability increase this year, driven by the expectation of U.S. SEC approval after regulatory developments and investment firms filing for XRP ETF products.