Since the beginning of the current month, Ripple whales have altered their approach towards this asset by selling around $800 million worth of XRP. This concerning trend reinforces the ‘buy the rumor, sell the news’ hypothesis regarding the end of the legal battle with the U.S. Securities and Exchange Commission (SEC). According to Ali Martinez’s report, whales have sold over 370 million XRP tokens in recent weeks. These sales started shortly after Ripple CEO Brad Garlinghouse announced the end of the legal battle with the SEC. Experts believe the impact of this news has already been factored into the price. For Ripple’s future, the potential approval of an XRP-based ETF in the U.S. could create market excitement, but long-term effects may vary.
