The US Securities and Exchange Commission has acknowledged BlackRock’s filing about allowing investors in its flagship Ethereum ETF to stake their assets.

Although this development doesn’t guarantee an official approval of the filing, it’s still a big step in the right direction.

NEW: U.S. SEC ACKNOWLEDGES BLACKROCK’S FILING TO ALLOW STAKING IN ITS SPOT $ETH ETF

— The Wolf Of All Streets (@scottmelker) July 29, 2025

The “acknowledged” part means that the securities watchdog has confirmed that it has received certain amendments made by the ETF issuer. Typically, the SEC also opens a public comment period, allowing stakeholders to weigh in on the matter.

BlackRock and Nasdaq submitted a 19b-4 rule change proposal that aims to allow investors using the iShares Ethereum Trust (ETHA) to stake ETH with staking rewards treated as income to the fund.

ETHA is by far the largest Ethereum ETF, and it became the third-fastest to reach a $10 billion AUM milestone within less than a year after its launch.

It continues to attract substantial net inflows. The last day in the red was on July 2, with $46.9 million leaving the fund. Since then, it has been on a massive roll, attracting nearly $4 billion in net inflows in less than a month.

The underlying asset’s price has benefited substantially from these enormous inflows, having surged by over 50% in the past month alone. Moreover, ETH is up by more than 150% since its bottom in early April and is close to knocking on the $4,000 door now.

TL;DR

• XRP whales move over 80M tokens off exchanges, signaling long-term holding behavior.
• $845M in single-day losses follows co-founder’s $140M sell-off amid price pressure.
• RSI cools from an overbought zone, indicating that XRP may be stabilizing after the recent price drop.

Exchange Supply Drops Sharply

Between July 23 and July 26, the amount of XRP held on centralized exchanges dropped from around 4.45 billion to just over 4.25 billion, based on Glassnode data. This change suggests large holders may be moving their funds into cold storage rather than keeping them liquid.

According to Captain Redbeard, the shift shows users are not preparing to sell. Instead, they appear to be withdrawing assets, possibly to hold through current market conditions.

Glassnode data showed a clear decline in $XRP held on exchanges, suggesting that holders are moving assets into private wallets rather than preparing to sell pic.twitter.com/9osNr7w1M7

— Captain Redbeard ‍♂️ (@Brett_Crypto_X) July 29, 2025

XRP was priced at $3.15 at press time, down 3% in the past 24 hours and nearly 9% over the last week. The asset has slipped steadily since reaching a new all-time high at $3.65 on July 18. Despite this, wallet outflows have continued. The behavior suggests many holders are not rushing to exit positions.

Analyst Ali Martinez said that losing the $3.15 level could open the door to a test of $3. He added that such a move “could present a solid buy-the-dip opportunity.” That level now acts as the nearest key support zone.

Selling Spikes After Insider Move

On-chain data shows roughly $845 million in realized losses over the past day, one of the most significant single-day sell-offs this month. This followed reports that a Ripple co-founder sold $140 million worth of XRP. The move added pressure to an already declining market.

While some investors are taking profits, trading volume remains strong at $6.2 billion. XRP continues to trade well below its all-time high, and recent activity shows a cautious mood.

Momentum Builds Underneath

The BBTrend value now sits at 27.66, pointing to a shift in short-term momentum. The recent expansion in green bars indicates renewed buying interest.

Meanwhile, the Relative Strength Index (RSI) has declined to 59 against the recent peak of 72. This shift indicates that the asset is no longer overbought, and it could now stabilize.

After hitting an all-time high of $3.65 in mid-July, XRP has entered a phase of consolidation. The token is gradually retracing to hover around the $3.15 mark. Despite multiple attempts to break higher, XRP has faced resistance near $3.3.

This price action reflects a cooling-off period following the sharp rally from early July, when it surged from around $2.2. Interestingly, older XRP wallets are on the move again, which could impact the asset’s future price trajectory.

Old Coins Return to Circulation

XRP is still up by almost 46% over the past month while holding slightly shaky at the $3.15 support level. According to Santiment’s latest data, one important on-chain signal is the reactivation of dormant coins, which suggests renewed investor interest and participation from long-term holders.

The average age of XRP investments has dropped by 91 days and is now standing at 593 days. This means that a wave of older wallets is moving assets back into circulation. Historically, such behavior has often preceded or accompanied bullish price action, lending further weight to the current market momentum.

However, crypto analyst Ali Martinez warned that if XRP fails to hold the crucial $3.15 support level, the crypto asset could retrace to the $3 mark. While this potential dip may concern short-term traders, Martinez said it could offer a compelling buy-the-dip opportunity for investors anticipating a rebound, especially given XRP’s strong performance and recent on-chain activity.

While traders eye short-term price action, major players are taking a longer-term view – especially through large-scale XRP allocations.

XRP Gains Institutional Traction

In what appears to be a growing corporate confidence in XRP as a strategic asset, Hyperscale Data has officially launched its $10 million XRP treasury program. The company plans to provide weekly updates starting August 12, in a bid to boost transparency and investor trust.

With a possible 36-month lockup under consideration, Hyperscale’s move indicates a long-term commitment rather than short-term speculation. The latest development comes on the heels of Nature’s Miracle’s $20 million XRP plan.