XRP Whales Sell 200 Million Before ETF Launch: What Are They Aware Of?

XRP XRP/USD There’s been notable movement from large holders, which, along with an increase in real-world use, keeps the price around the $3 mark.

Trader Notes: Analyst Ali Martinez has identified $2.78 as a critical support level to watch amid ongoing selling pressure.

Statistics: Martinez pointed out that large holders, or whales, have moved approximately 200 million XRP over the past two weeks.

According to GlassNode data, while Bitcoin and Solana are seeing a decline in open interest, XRP shows increasing interest from traders, indicating potential momentum related to ETF volatility.

Coinglass reported that XRP liquidations in the past day amounted to $1.7 million, including $1.3 million in long positions.

Community News: Vivopower International’s digital division, Caret Digital, announced plans to secure bulk mining rigs, allowing them to obtain XRP at a discount of as much as 65% through mined token exchanges.

The CME Group revealed intentions to introduce options contracts for XRP and Solana on October 13th, pending regulatory approval, which is expected to enhance demand in the futures market.

Since May, over 370,000 XRP futures contracts (valued at approximately $16.2 billion) have been traded.

Giovanni Vitioso, Global Head of CME Group Cryptocurrency Products, stated, “The launch of these options agreements is grounded in substantial growth and liquidity observed across Solana and XRP futures.”

Rex Shares also announced a new product, the Rex-Sosprey XRP ETF (XRPR), which is the first registered ETF in the US that offers direct exposure to XRP, effectively broadening access to these digital assets.

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