What happened? Whales sold 500,000 XRP in 48 hours, pushing the price down to about $2.32 and testing the critical $2 support while 21Shares filed an 8(a) for a spot XRP ETF.
A large whale sell-off moved roughly 500,000 XRP over two days, driving the token into the $2.00–$2.30 support zone. Meanwhile, 21Shares submitted an 8(a) filing that could lead to automatic approval of a spot XRP ETF if the SEC takes no action within 20 days. Technicals suggest this is the fourth accumulation step in a multi-year pattern, with buy signals forming but downside risk to $1.80–$1.90 if support breaks.
Who does this affect? Traders, holders, and institutions tied to XRP and the broader crypto market are the main parties impacted.
Short-term traders face higher volatility and risk of fast liquidations as leverage and meme-coin activity add noise to price moves. Long-term holders and institutional allocators must consider the ETF filing and Ripple’s infrastructure acquisitions, which could shift demand and supply dynamics. Payment firms and remittance players are watching too, since Western Union’s choice of Solana highlights competing use-cases even as Ripple targets institutional rails.
Why does this matter? The mix of whale selling, a potential ETF filing, and Ripple’s push into legacy finance could quickly change liquidity, supply and price direction in the XRP market.
If $2 holds and the ETF process advances, the market could see meaningful inflows that push prices toward $2.50–$2.70 as institutional demand picks up. If support fails, leveraged positions and weak hands could accelerate a drop to $1.80–$1.90, creating broader downside pressure across altcoins. Over the medium term, Ripple’s acquisitions and increasing institutional flows could tighten effective supply and make XRP more sensitive to large transactions and regulatory news.