A significant $17.6 million short position in XRP has been opened by a major market participant, injecting a sharp note of caution into a market overwhelmingly bullish on the asset. The sudden, large-scale bearish bet comes just weeks before the U.S. Securities and Exchange Commission (SEC) is scheduled to issue crucial decisions on multiple applications for spot XRP Exchange-Traded Funds (ETFs). This move contrasts starkly with the prevailing optimism, which has driven the token's price higher in anticipation of an approval that could usher in billions in institutional capital. The whale's decision to short at this pivotal moment suggests a lack of confidence in the final regulatory outcome, or perhaps an expectation of a "sell the news" event even if the <a href="https://www.cryptoknowmics.com/news/solana-etfs-embrace-staking-feature-as-sec-decision-looms/" target="_blank" rel="noopener">ETFs</a> are approved.
<h2>October Rulings and Billions at Stake</h2>
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The SEC has clustered its decisions on numerous altcoin ETFs, including those for XRP and Solana (SOL), into a tight window in mid-to-late October. Following Ripple’s favorable court outcomes against the SEC, analysts have dramatically increased the probability of approval, with some estimates reaching as high as 95%. An approval would be a landmark event, officially integrating the digital asset into mainstream financial products and potentially triggering $5 to $8 billion in inflows within the first year, according to various market forecasts. The timing of the $17.6 million short, therefore, turns the trade into a high-stakes gamble on the precise regulatory and market reaction. It highlights the deeply polarized views on XRP's immediate future despite the broad optimism surrounding institutional adoption.

$17.6 Million XRP Short Bet Placed Against ETF Optimism Ahead of SEC Rulings

A large whale opened a $17.6M short position on XRP just before the SEC's critical spot crypto ETF rulings in October, defying market optimism.

$17.6 Million XRP Short Bet Placed Against ETF Optimism Ahead of SEC Rulings

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