XRP News Today: XRP Holds Above $3, ETF Optimism Meets Whale Selling

Key Takeaways:XRP price holds above $3 amid REX-Osprey ETF launchWhales offload $476M in XRP as profit-taking intensifiesBearish technical patterns emerge, analysts concerned with longevity of bull run XRP price remains above $3 following the confirmation of the REX-Osprey ETF launch, but growing bearish technical signals and whale-selling raise concerns about sustainability. XRP Price Gains Ground Amid ETF LaunchXRP rose 1.43% over the past 24 hours to trade at $3.03, reversing a recent monthly decline of 3.21%. The gains come as the REX-Osprey XRP ETF (ticker: XRPR) is set to begin trading this week.The market response to the ETF launch carries optimism, as increased institutional access and regulatory validation for XRP will likely drive further momentum. However, early volatility remains a risk—XRP briefly fell 6% following the ETF announcement on September 14 before rebounding. Drop in XRP Ledger’s Network Activity However, some bearish stances remain. The XRP Ledger has seen a significant drop in network activity over the last two months. Onchain data from CryptoQuant shows that the daily active addresses (DAAs) are far below the July 18 peak of 50,482 DAAs.According to Cointelegraph, there are only around 21,000 daily active addresses at the time of writing. This possibly signals reduced interest or a lack of confidence in XRP’s near-term outlook. Whales Selling Despite short-term price resilience, on-chain data reveals increasing selling pressure from large holders. According to Cointelegraph and CryptoQuant, whales offloaded over 160 million XRP (valued at $476M) in the past two weeks. Entities holding between 1 to 10 million XRP now control just 6.79 billion XRP—a six-week low. XRP Outlook: Key Levels to WatchKey levels to watch include $3.07 (resistance), $2.95 (short-term support), and $2.70 (descending triangle target). Sustained volume and ETF demand will be critical in determining whether XRP can consolidate above $3 or face a deeper correction.