XRP Surges as Brazil Approves ETF, Whales Accumulate $150M

XRP experienced a notable surge, climbing 7.5% to $2.71 on February 20, 2025, fueled by developments surrounding potential institutional investments. The SEC's acknowledgment of XRP ETF filings from firms like WisdomTree and Canary Capital, now subject to a 21-day public comment period, underpins this optimism. The SEC has up to 240 days to decide on these filings. Brazil approved the Hashdex Nasdaq XRP Index Fund, becoming the first country to greenlight a spot XRP ETF. This fund, set to launch on the B3 exchange, offers direct XRP exposure. Adding to the bullish sentiment, crypto analyst Ali Martinez reported that large investors, or 'whales,' acquired approximately 150 million XRP tokens in the last 48 hours. This accumulation, traditionally a sign of confidence, hints at potential market shifts. Ripple remains in a legal battle with the SEC since 2020, with the next court deadline on April 16, 2025.