Attention XRP Investors: Latest Ripple ETF Updates and Price Red Flags

Attention XRP Investors: Latest Ripple ETF Updates and Price Red Flags

XRP is up about 5% daily, but there is a major price warning from a prominent analyst.

November will be an important month for many altcoins as they could see the launch of multiple exchange-traded funds that track their performance. XRP is at the forefront of all ETF news and updates due to the sheer number of such applications.

ETF updates

Following Canary Capital’s changes filed last week, here’s the latest on that front. One includes a new filing from 21Shares, which, like some of the recent filings, does not include a “deferral amendment.” This could mean that the product is ready to see the light of day 20 days after submission. In the case of 21Shares’ applications, this date is November 27, unless the U.S. Securities and Exchange Commission objects.

Franklin Templeton also recently updated its S-1 filing, and the XRPZ application is now positioned of the Depository Trust & Clearing Corporation (DTCC).

Current data from Polymarket still shows that expectations for a spot XRP ETF to hit US markets this year are above 99%. Moreover, many industry experts believe that the first product of this type could go live as early as next week.

But there are price warnings

Despite all this progress on the ETF front, as well as the positive news about the company behind the token such as investment rounds and new acquisitions, XRP whales continue to be involved in substantial sell-offs. Data from Ali Martinez shows that these major market participants have sold another 500,000 tokens in the last 48 hours alone, building on their previous offloads.

Consequently, the analyst is not too optimistic about the future price development of the asset. Although Interestingly, IncomeSharks made a similar prediction a few days ago, indicating that those looking to buy XRP at prices below $2.00 might soon be able to do so.

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