- 20,000,000 XRP transfer sparks speculation of upcoming market shift.
- SEC approval of XRP in crypto ETF fuels investor interest.
- Whale movement hints at major XRP strategy amid market pressure.
A massive 20,000,000 XRP, worth around $58.2 million, was moved today. The funds were transferred from the Upbit exchange to an unknown wallet, sparking speculation among traders and analysts. Whale transactions of this size often signal potential market shifts, prompting many to question if a significant move is on the horizon for XRP.
This large transfer comes at a time when XRP has been facing downward pressure. The coin’s price recently hovered around $2.82, struggling to maintain critical support levels. Technical indicators such as the Relative Strength Index (RSI) show that XRP remains in bearish territory with an RSI reading of 41.61.
Additionally, XRP’s price is approaching the lower Bollinger Band, which typically signals an oversold market.
Source: Tradingview
Also Read: Dogecoin Whales Make Massive Move as New ETF Sparks Price Surge!
SEC Approval of Crypto ETFs Adds Fuel to the Fire
Adding another layer of intrigue, the cryptocurrency market has recently seen a major regulatory shift. The SEC has officially approved the Hashdex Nasdaq Crypto Index ETF, which now includes XRP, along with Solana (SOL), Stellar (XLM), and established giants like Bitcoin (BTC) and Ethereum (ETH).
This approval aligns with Nasdaq’s updated listing standards, making it easier for crypto funds to include a broader range of digital assets.
The ETF’s update, confirmed through a Form 8-K filing, introduced a revised trust structure to meet Nasdaq’s new regulations. This change allows XRP and other altcoins to be included in mainstream investment options, potentially sparking renewed interest in these assets.
Additionally, the SEC’s streamlined approval process now reduces the approval timeline for crypto ETFs from 270 days to just 75 days.
The Impact of XRP’s Transfer Amid New ETF Approval
With the inclusion of XRP in a prominent crypto ETF, its visibility in the investment community is likely to rise. The massive transfer of 20,000,000 XRP could be part of a larger strategy by whales positioning themselves before XRP sees increased institutional interest.
As the industry braces for more crypto ETFs to be launched under the newly simplified guidelines, the massive transfer and the positive regulatory shift could be key factors influencing XRP’s future performance.
Also Read: Naver to Absorb Upbit in Strategic Restructure of South Korea’s Digital Landscape
