- SEC filing warns whales control much of XRP supply, raising manipulation risks for upcoming ETF approvals.
- XRP holds $2.70 support, analysts see potential bounce to $3.15 as ETF deadlines approach.
A new ETF filing with the U.S. Securities and Exchange Commission (SEC) has raised concerns about whale activity in the XRP market. The Cyber Hornet S&P500/XRP ETF prospectus warns that a small number of large holders control much of XRP’s supply. The filing states their trading could influence prices and affect stability.
Attorney Bill Morgan said the disclosure is notable.
“If an institutional applicant for an ETF acknowledges the risk of whale manipulation, then it should be considered a real risk,” he explained.
Morgan added that some traders often point to broader market moves, but an official SEC filing puts the issue in clear terms.
The filing also described XRP’s fixed supply. All tokens were created at launch, with no mining or staking to expand circulation. Validators continue to secure the network, but the absence of new issuance may add to liquidity and volatility pressures.
The prospectus filed with the SEC for the Cyber Hornet S&P500/XRP ETF gives an assessment of the risk to investors in the ETF in respect of the XRP component.
One of the risks mentioned is manipulation by XRP whales
It is surprising that often when people raise the issue of… pic.twitter.com/twdpkCGoo8
— bill morgan (@Belisarius2020) September 27, 2025
ETF Developments Around XRP
Ripple has drawn more attention with new ETF activity. The REX-Osprey XRP ETF (ticker XRPR) launched on September 18. While the issuer called it a spot ETF, some market participants said it differs from other products. Journalist Eleanor Terrett described it as a “spot ETF with extras.”
More XRP-related applications face deadlines in the coming weeks. The SEC is scheduled to issue decisions on Grayscale (Oct. 18), 21Shares (Oct. 19), Bitwise (Oct. 20), Canary Capital (Oct. 23), WisdomTree (Oct. 25), and Franklin Templeton (Nov. 14).
These dates will be closely followed by investors and institutions tracking XRP’s entry into regulated products.
XRP Price and Analyst Views
XRP price was trading at $2.89 at press time, with a 24-hour volume of $3.84 billion. It is up 3.39% on the day and 2.28% in the past week.
Analyst Mikybull noted XRP’s quarterly chart flipped green for the first time since 2017. He said the token has broken resistance similar to its 2017 breakout. “$XRP to $5-$15,” he commented, linking current price action to the earlier rally.
$XRP to $5-$15 🤔
For the first time since 2017, it flipped green on the quarterly chart.
Already broken above the resistance as it similarly did in 2017. pic.twitter.com/NP7FY7fjC9
— Mikybull 🐂Crypto (@MikybullCrypto) September 29, 2025
Analyst Ali pointed to support at $2.70–$2.75. He wrote, “Support is holding! $XRP could bounce to $3 or even $3.15.” His chart shows repeated retests of this zone, with a path higher if the floor holds.
Whale activity warnings, new ETF filings, and fresh chart signals have pushed XRP into focus. With October and November deadlines approaching, traders are watching both price levels and regulatory decisions to gauge the token’s next move.
