Key Takeaways:
XRP whales accumulated 642 million tokens near $1 since Aug. 1, lifting holdings to 8.13 billion XRP as the SEC proposed easing fundraising rules.
Wallets holding between 1 million and 10 million XRP purchased roughly 380 million tokens in the first week of August, according to on-chain data from the XRP Ledger. Buying accelerated through mid-month, with investors adding 72 million XRP on Aug. 13-14 and another 190 million tokens on Aug. 16-17, while large transactions exceeding $1 million jumped 280 percent on Aug. 17-18.
The accumulation coincided with the SEC's Aug. 18 proposal to exempt eligible token issuers from registration for raises up to $75 million annually, remove mandatory lockup periods, and grant safe-harbor status once developers complete technological milestones. Ripple Prime, the company's brokerage subsidiary, also completed a $275 million private placement of unsecured bonds due 2031 with an 8.25 percent coupon and a BBB rating from KBRA, bringing Ripple's total debt financing to $475 million over three months.
The whale buying and debt raise suggest major holders are not planning speculative sales near $1, even as the Senate's CLARITY Act faces a procedural vote on Sept. 15 with passage odds at 20 percent, down from more than 80 percent earlier this year. Bitcoin faces $4.36 billion in potential long liquidations if it falls to $57,200, while XRP holds above the $1 psychological support level.
Ripple's total debt financing reached $475 million over the past three months, including the May agreement, through the infrastructure of Hidden Road, which the company acquired in 2025 for $1.25 billion. The company also partnered with South Korea's Jeonbuk Bank to introduce instant settlements through Ripple Payments.
On the XRP Ledger, Ripple's dollar-backed stablecoin RLUSD showed unusual dynamics. A recent $35.7 million token burn pushed the monthly burn rate on the XRPL to 99 percent, with $449.3 million issued and $448.9 million burned over 30 days. Ethereum retained more liquidity, with $403 million issued and only $177.3 million burned, leaving total RLUSD supply of $1.757 billion split almost equally between the two blockchains.
The SEC's proposal introduces two new fundraising tracks: a $75 million annual exemption for eligible token issuers, a safe harbor that automatically removes security status once developers complete technological milestones, and the elimination of mandatory token lockup periods. The Senate scheduled a procedural vote on the CLARITY Act for Sept. 15, though passage odds have dropped to 20 percent from more than 80 percent earlier this year.
Spot Bitcoin ETFs attracted $189.31 million in net inflows on Aug. 18, while Ethereum ETFs recorded $71.47 million, offsetting the record $389.7 million in outflows from Aug. 10-14. U.S. spot XRP ETFs saw $5.81 million in net inflows. VanEck analysts believe Bitcoin's 10-month correction is nearing its end, with eight of 12 capitulation indicators triggered and September through November identified as the accumulation window.
In the futures market, a drop in Bitcoin to approximately $57,200 would trigger more than $4.36 billion in forced long liquidations, while Ethereum falling to approximately $1,715 would trigger $2.97 billion, according to CoinGlass data.
This article is for informational purposes only and does not constitute investment advice.
