XRP ETF (XRPC) launches; $2.16 support critical as large 20x short and heavy whale selling coincide with multi-day XRP decline — 716 $1M+ whale transfers raise breakout watch

first published 2025-11-16T04:50:42Z

Coinbase Asset Management president Anthony Bassili said investors clearly prioritize Bitcoin first and Ethereum second, with Solana likely the third asset on investor radars. He described a “very wide gap” after Solana and named XRP as a possible next choice but said it still needs greater network velocity and product-market fit. Bassili noted recent Ripple progress (custodian, stablecoin layer, broker-dealer) and highlighted Canary Capital’s XRP ETF posting $58 million in first-day volume, while warning markets can shift as cash flows and fundamentals clarify.

AI Analysis

Bassili states investor preference order (Bitcoin, Ethereum, then Solana) and a "very wide gap" after Solana, indicating weaker current demand for XRP; he also cites concrete developments for XRP — Ripple’s product/custody progress and Canary Capital’s XRP ETF $58M first‑day volume — which provide mild bullish evidence but do not close the stated gap.

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