XRP Surpasses USDT as the 3rd Largest Cryptocurrency—Ripple CEO Eyes ETF Approval & IPO Possibility
News 2025-03-21

Whale Accumulation Drives XRP Market Surge

Despite a 20% decline over the past two months, large investors (whales) continue accumulating XRP, signaling strong institutional confidence. Blockchain analytics firm Santiment reports that wallets holding at least 1 million XRP have increased their holdings by 6.5%, bringing the total to 46.4 billion XRP—valued at approximately $114 billion at current prices.

🔹 XRP Network Activity Surges

  • Active XRP wallets in March increased sixfold compared to previous months.
  • Growing investor interest is linked to the anticipated resolution of Ripple’s SEC lawsuit and expectations of an XRP spot ETF.



Ripple CEO: XRP ETF & U.S. Strategic Reserves

Ripple CEO Brad Garlinghouse, in a recent interview with Bloomberg Markets, expressed optimism about the approval of an XRP ETF by late 2025. Additionally, he hinted that XRP could become part of the U.S. government’s digital asset reserves:

"Truth Social’s president mentioned plans to establish a Bitcoin strategic reserve alongside a broader cryptocurrency reserve, which could include XRP."

This statement follows the resolution of Ripple’s prolonged legal battle with the SEC. Garlinghouse revealed that the SEC is expected to withdraw its lawsuit against Ripple soon, opening up new growth opportunities for XRP.

📌 Will Ripple Go Public?

While an initial public offering (IPO) remains a possibility, Garlinghouse clarified that it is not Ripple’s current priority.

XRP ETF Approval Could Gain Momentum in Late 2025

Garlinghouse believes that the market could see a wave of XRP ETF approvals in the second half of 2025. Over 10 asset managers, including Bitwise and Franklin Templeton, have already filed applications with the SEC.

"I have full confidence in the approval of an XRP ETF."

He also pointed out that XRP exchange-traded products (ETPs) have already seen success in non-U.S. markets, signaling strong institutional demand.

📌 Regulatory Uncertainties Remain

  • The SEC recently approved spot Bitcoin (BTC) and Ethereum (ETH) ETFs, but XRP's approval is not guaranteed.
  • Regulatory stance, legal history, and market liquidity could impact the SEC’s decision-making process.

XRP Surpasses USDT to Become the 3rd Largest Cryptocurrency

Following these bullish developments, XRP surged 11% in the past 24 hours, breaking past $2.51. This rally pushed XRP’s market cap beyond Tether’s USDT, making it the third-largest cryptocurrency, trailing only Bitcoin (BTC) and Ethereum (ETH).

Key Takeaways for Investors

  • XRP’s market surge is driven by institutional accumulation and ETF speculation.
  • SEC’s lawsuit withdrawal could significantly boost Ripple’s market position.
  • XRP ETF approvals remain uncertain, but late 2025 could see major breakthroughs.
  • Market risks include regulatory shifts, volatility, and potential whale sell-offs.

Investors will be closely watching how Ripple navigates the evolving regulatory landscape and whether XRP ETFs become a reality in the U.S.