XRP News Today: XRP's Bearish Crossroads: ETF Hopes vs. $50M Daily Whale Exodus

XRP is under sustained downward pressure as whale selling accelerates, with over $50 million in token value exiting large wallets daily since early 2024. Data from Whale Flow and CryptoQuant indicates a consistent net outflow of approximately $50 million per day, driven by wallets holding more than 1,000 tokens. This persistent selling has intensified bearish sentiment, with analysts warning of further price declines unless a clear bullish reversal emerges BeInCrypto^[1]. The sell-off is compounding existing technical weaknesses, including a descending triangle pattern identified by Peter Brandt, a renowned chart analyst. If the $2.75 support level breaks, the token could face a potential drop to $2.20 CoinCentral^[2].

The ongoing whale activity contrasts with growing speculation around a spot XRP ETF approval, which remains a key catalyst for market participants. While some market commentators anticipate a U.S. Securities and Exchange Commission (SEC) approval by October 18, regulatory hurdles persist. Trackinsight and CF Benchmarks highlight the complexity of regulatory clearance, with Polymarket odds showing over 99% probability of approval by 2025 Coinedition^[3]. However, experts caution that even positive news could trigger a "sell-the-news" response if whales use it as an exit point.

Technical analysis underscores the bearish bias. The descending triangle pattern, which requires a breakout below the $2.68 level to confirm the downtrend, has drawn attention from traders. Peter Brandt emphasized that completing this pattern would signal a high-probability continuation of the decline. Conversely, a sustained rebound above $3.10 could neutralize near-term risks and rekindle bullish momentum Cointelegraph^[4].

Market dynamics are further complicated by broader crypto trends. Ripple's legal clarity post-SEC settlement has bolstered institutional interest, with companies like Reliance Group Global and VivoPower adding XRP to their treasuries. VivoPower, backed by Saudi investor Prince Abdulaziz bin Turki Al Saud, plans to allocate $121 million to XRP, citing its utility in cross-border payments and DeFi Forbes^[5]. Despite these developments, XRP's market cap of $160 billion remains significantly smaller than Bitcoin's $2.2 trillion, limiting its ability to absorb large inflows without volatility.

On-chain data reveals additional risks. Exchange reserves for XRP have surged to nine-month highs, with over 440 million tokens added to exchanges in the past month. This elevated supply pressure increases the likelihood of price corrections during rallies. Analysts at TradingNews note that a clean close above $3.10 would require shrinking whale outflows and reduced exchange balances to validate a bullish breakout TradingNews^[6].

The coming weeks will be pivotal for XRP. The SEC's decision on ETF applications and Ripple's progress in securing a U.S. banking license could either stabilize the market or exacerbate volatility. For now, the token trades near $2.83, with short-term support at $2.73 and resistance at $3.10. Investors are advised to monitor key technical levels and regulatory updates closely, as the interplay between whale activity and institutional adoption will likely dictate XRP's trajectory.