On October 1st, Whalevolume exceeded $1 million, reaching a six-month high, indicating that funds are starting to accumulate after the XRP ETF frenzy.



This week, Bitwise registered a trust entity named "XRP ETF" in Delaware. The next day, the asset management company submitted an S-1 form to the U.S. Securities and Exchange Commission, which is a necessary step for companies aiming to launch new securities and list them on a public securities exchange.

Therefore, the optimistic sentiment surrounding the potential XRP ETF has triggered a sharp increase in on-chain volume of encryption assets.

Market Risks of XRP's Enthusiasm: -

According to the latest insights from the encryption analysis platform Santiment, the volume has reached 23.9 billion US dollars, the highest level in eight months. This indicates an increase in trader activity, and institutions may be accumulating.
XRP0,53%
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