"XRP (XRP) spot ETF also insufficient… whale selling continues"

JH Kim

Summary

XRP (XRP) spot ETF was approved in the United States, but whale selling continues, so market selling pressure has not eased.
According to on-chain data, large holders are moving large amounts to Binance, resulting in repeated price declines.
Contrary to expectations of institutional demand inflows, exchange inflows have steadily increased, strengthening selling pressure, and no clear bullish reversal signals are confirmed in the short term.

Despite the approval of a spot XRP (XRP) exchange-traded fund (ETF) in the United States, analysis indicates that selling by whales continues, and market selling pressure has not eased.

On the 19th (local time), according to CryptoQuant contributor PelinayPA, most of the XRP inflows to Binance recently occurred in the holding ranges of 100,000–1,000,000 XRP and over 1,000,000 XRP. This means that large holders, rather than individual investors, are moving amounts to exchanges.

He explained that on-chain data shows XRP prices have repeatedly trended downward after exchange deposit volumes surged. He diagnosed that a structure in which supply exceeds demand persists and that a selling-dominant phase is being maintained.

From a technical perspective, it was also suggested that the main support zone could see an additional drop to 1.82 dollars.

PelinayPA pointed out that no clear bullish trend reversal signal is confirmed on the current chart. Although there were expectations for institutional demand inflows after the approval of the XRP spot ETF, in reality large volumes have moved to exchanges, strengthening selling pressure.

He added that XRP faces repeated selling whenever it reaches around 1.95 dollars, and that unless exchange inflows decrease, meaningful short-term rebounds may be limited.