Attention XRP Investors: The Latest Ripple ETF Updates and Price Red Flags
November is shaping up to be an imperative month for numerous altcoins as they can see the launch of multiple exchange-traded funds tracking their performance. XRP is at the forefront of all ETF news and updates due to the large number of such applications.
ETF Updates
After last week’s amendments filed by Canary Capital, here is some of the latest news on that front. One of them includes a new filing from 21Shares, which, just like some of the recent applications, does not include “delayment amendment.” This could mean that the product is poised to see the light of day 20 days after the filing. In the case of 21Shares’ applications, this date is November 27, unless the US Securities and Exchange Commission objects.
Franklin Templeton has also recently updated its S-1 filing, and its XRPZ application is now positioned with the Depository Trust & Clearing Corporation (DTCC).
Current data from Polymarket still shows that the expectations for a spot XRP ETF to reach the US markets this year are above 99%. Moreover, many industry experts believe that the first such product could go live as soon as next week.
But There Are Price Warnings
Despite all this progress on the ETF front, as well as the positive news related to the company behind the token, such as investment rounds and new acquisitions, XRP whales continue to engage in substantial sell-offs. Data from Ali Martinez shows that these large market participants have disposed of an additional 500,000 tokens in the last 48 hours alone, further building on their previous offloads.
Consequently, the analyst is not too optimistic about the asset’s future price performance. Although XRP has bounced from the recent $2.10 lows and is up by over 5% daily, Martinez noted that there could be more pain on the horizon, such as a price drop to and below the $2.00 level. Interestingly, IncomeSharks made a similar prediction just a few days ago, indicating that those who wanted to buy XRP at prices below $2.00 might soon be able to.
The post Attention XRP Investors: The Latest Ripple ETF Updates and Price Red Flags appeared first on CryptoPotato.
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