XRP Dark Pools Exposed: Expert Says They’re Stalling Clarity Act to Keep Accumulating

XRP’s price performance has remained a source of frustration for many investors despite continued institutional developments and growing interest in the asset.

While the token has traded well below its previous highs for months, some market observers believe the price action does not reflect underlying demand. Crypto commentator BullRunners has outlined a detailed perspective suggesting that hidden accumulation and ongoing regulatory delays may be contributing to XRP’s prolonged period of price weakness.

In a recent video shared on X, BullRunners claimed that large institutional buyers are quietly accumulating XRP while public market prices remain subdued. He explained that the combination of declining exchange balances, ETF demand, whale accumulation, and delayed regulatory clarity points to a market that may be behaving differently than it appears on the surface.

XRP Dark Pools EXPOSED: They're STALLING The Clarity Act To Keep Accumulating (SUPPLY SHOCK)

— BULLRUNNERS (@BullrunnersHQ) July 10, 2026

BullRunners Points to Declining Exchange Supply

BullRunners began by noting that XRP has fallen significantly from its previous peak and has spent several months trading in a narrow range. Despite that weakness, he claimed the amount of XRP available on exchanges has dropped sharply, falling from nearly four billion tokens a year ago to roughly 1.6 billion today, which he described as a seven-year low.

According to BullRunners, this decline has occurred alongside the launch of multiple XRP exchange-traded funds in the United States. He stated that these ETFs collectively hold more than 900 million XRP, while large holders, commonly referred to as whales, have accumulated approximately 1.5 billion additional tokens over the past six months.

He suggested that these developments raise an important question about where the available XRP supply is going if the market continues to trade lower.

Dark Pool Theory and Regulatory Delays

BullRunners argued that institutional investors do not acquire large quantities of XRP through public exchanges because doing so could drive prices higher during execution. Instead, he claimed they rely on private trading venues known as dark pools, where large transactions can occur away from public order books.

As part of his argument, he referenced FalconX and its acquisition of 21Shares before the launch of a spot XRP ETF. BullRunners suggested that analysts believe FalconX’s access to private XRP liquidity could be diminishing as ETF demand grows. However, he acknowledged that this remains an interpretation rather than a confirmed fact, noting that dark pool liquidity is not publicly disclosed.

He also addressed alternative explanations for XRP’s performance. BullRunners noted that XRP continues to move closely with Bitcoin and cited comments from pro-XRP attorney Bill Morgan, who has argued that broader exchange data still shows approximately 15 billion XRP available for trading. BullRunners agreed that these factors should not be ignored and cautioned against claims that an immediate supply shock is guaranteed.

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Clarity Act Viewed as a Potential Turning Point

Another major focus of the presentation was the proposed Clarity Act. BullRunners argued that legislation formally defining XRP’s legal status could open the door for larger institutional investors that currently remain on the sidelines.

He claimed that pension funds and sovereign wealth funds generally require legal certainty before investing in digital assets and suggested that passage of the legislation could significantly increase institutional demand. BullRunners also discussed opposition from segments of the banking industry, citing comments made by JPMorgan CEO Jamie Dimon regarding stablecoin legislation.

Although he stopped short of alleging coordinated market manipulation, BullRunners said the timing of shrinking exchange balances, institutional accumulation, and delays surrounding the Clarity Act raises questions that deserve closer examination. He concluded by encouraging viewers to monitor exchange supply, institutional activity, and legislative developments while emphasizing that investors should evaluate the available evidence and reach their own conclusions.