On-chain data has revealed an interesting trend among XRP investors amid certain crucial updates regarding the leading altcoin, particularly the XRP Spot Exchange-Traded Funds (ETFs). With the market shifting towards a bearish state, the current behavior of investors could play a pivotal role in shaping the token’s next trajectory.
Before Vs. After The XRP Spot ETFs Update
XRP’s market dynamic has entered a decisive new chapter, as holders make key moves in the market. A recent report from CryptoQuant, a leading on-chain data analytics platform, has broken down the actions of investors before and after the announcement of XRP Spot ETFs, revealing a notable trend.
In the quick-take post, Woominkyu, a market expert and author, highlighted that whale investors acted prior to the spot ETFs announcement, but retail investors only arrived after the crucial update. This trend ended up changing the asset’s market setup.
Once the ETF confirmation was released, sentiment transformed almost immediately. Before the news about XRP Spot ETFs broke, on-chain data unveiled that futures data demonstrated a clear rise in whale-sized orders. Such a steady acquisition indicates early strategic positioning by high-net-worth players while the price of the token was still compressed and moving sideways.
However, the most important development is the retail investors’ orders, which were being observed following the spot ETFs news. The stark difference between pre-announcement caution and post-announcement confidence highlights how revolutionary this milestone will be for XRP and its ecosystem.
Woominkyu stated that this pattern, whales first, retail last, is typical and frequently indicates a change in the state of the cryptocurrency market. As sentiment begins to mix with earlier informed movements, the market typically becomes more erratic and unpredictable after retail investors arrive late.
Meanwhile, news regarding the spot ETFs bolstered this transition by attracting traders who were not available during the buildup. This does not imply that the move is finished, but it does indicate that the market has arrived at a stage where retail and whale behavior collide. A trend of this kind makes it difficult for traders to read the next market direction.
Several Spot ETFs Set For Launch
As anticipation builds in the sector, Ripple Bull Winkle, a researcher and host of The Crypto Blitz Show, has outlined a potential timeframe for several XRP spot ETFs to go live. Ripple Bull Winkle declared that 7 of the funds are officially set to launch in just 12 days, marking one of the most significant countdowns in the altcoin’s history.
According to the expert, these funds will trade on Nasdaq, CBOE, and NYSE at the same time when they secure approval from the US SEC. Following years of waiting, XRP is about to enter the global ETF market, allowing direct institutional access to the altcoin.
“Institutions aren’t gambling, they’re positioning before the next leg,” the expert stated. Thus, the expert believes that the token’s move is already being orchestrated underneath the surface.
Featured image from Peakpx, chart from Tradingview.com
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