The SEC has approved the ProShares Trust's XRP ETF to be publicly listed on April 30. While this news has driven a short-term upward momentum, I actually think it's not necessarily a good thing that the ETF is launching. Although it makes it more convenient for investors to purchase, anything that is marked is also easier to sell. Good news landing can be bad news, so I'm preparing to start positioning low-leverage short positions around 2.3.

Thinking back to last year's ETH ETF launch, it dropped from 4000 all the way down to 2000. When everyone is betting on a rebound, the market will never allow everyone to make money; it tends to move in the opposite direction of what most people expect. So, I bet that after XRP launches the ETF, it will start to go bearish!