Whales sell en masse Ripple (XRP), but ETF Kans keeps hope alive

Ripple (XRP) managed to launch an exceptional rally at the end of last year and the beginning of this year. The popular Altcoin climbed considerably in value at that time, from around $ 0.50 to a peak of $ 3.40. Meanwhile, the XRP Koers Substantially dropped to a current price of $ 2.04 and analysts expect the price pressure to last. Based on on-chain data Van Glassnote shows that XRP investors with a profit for millions of dollars in coins sell on a daily basis.

Whales dumping for millions of dollars to XRP

According to new on-chain data, large holders cash in, or Whales, from the currency currently more than $ 68 million dollars profit every day. This high degree of sale by Whales is reminiscent of the peak of crypto market in 2017, just before the market then collapsed considerably. It is of course not surprising that investors sell their coins, since the Altcoin still acted at $ 0.50 in November of last year. But what is particularly worrying is that despite the decrease in the XRP price from $ 3.40 to $ 2.04, the sales pressure under Whales continues, which shows that these investors expect the price to fall even further.

Even more remarkable is that this price drop also puts pressure on the new investors. This investor group, consisting of investors who boarded three to six months ago, is now about break-even. So for an average price of just over $ 2 they have bought their XRP. This may put pressure on these investors and can unleash a further wave of sales. Some analysts warn Even for a possible decrease of 35%, towards the price area between $ 1.35 and $ 1.60.

Chance of approval XRP ETF rises to 95%

Despite the sales pressure of Whales, there is still hope for XRP investors. The chance of an American XRP Spot Exchange Traded Fund (ETF) has risen considerably. ETF Experts shadow The chance of approval for this year now at 95%, while previously it was 85%. The increase is due to increasing involvement of the American regulator, which is seen as a positive signal for crypto ETF publishers.

Not only XRP is high on the list. Also for Litecoin (Ltc) one Solana (SOL) The chance of approval is now at 95%. Even Dogecoin Makes with 90%, a serious chance of its own ETF, with proposals from Grayscale and Bitwise, among others. The crypto community hints on an ETF summer that may revive the Altcoin prices.