XRP Whales Liquidate Holdings Despite ETF Launch Anticipation
- Whales holding between 10 million to 100 million XRP sold a total of 40 million coins in the last day.
- The U.S. SEC delayed the approval of the Franklin Templeton XRP ETF, contributing to negative market sentiment.
- XRP price rose by over 1% in the last day, currently trading at $3.05, with an intraday range of $2.98 to $3.07.
- Trading volume increased by more than 40% in the past day, indicating heightened activity despite whale sell-offs.
- Whales have opened short positions between $3.3 and $3.6, creating downward pressure on prices.
The anticipated launch of the REX-Osprey XRP ETF has not translated into positive sentiment among large holders, who continue to liquidate their assets amid uncertainty regarding future ETF approvals and overall market conditions.
Despite a recent price increase, ongoing whale selling and short positions suggest that upward momentum for XRP may be challenged moving forward as market dynamics remain volatile.(Source)
