A major milestone for Ripple’s native token is on the horizon. The U.S. Securities and Exchange Commission (SEC) has granted automatic approval for the Canary XRP ETF, paving the way for its listing on Nasdaq under the ticker XRPC. Trading is expected to begin later this week once final administrative filings are complete.
- Canary XRP ETF gains automatic SEC approval for Nasdaq listing.
- Trading expected to start later this week.
- XRP holds near $2.45 with signs of renewed momentum.
- Analysts see the ETF as a major boost for XRP adoption.
The approval follows Canary Capital’s submission of Form 8-A on November 10 — the last procedural step before launch. With the ETF now auto-effective, the market is preparing for XRP’s first-ever spot fund under the Securities Act of 1933, marking a major step in the token’s institutional adoption story.
Nasdaq has already cleared the shares for listing, referencing the fund’s registration statement filed with the SEC on October 24. The trust’s goal is straightforward: to mirror the performance of XRP’s spot price, giving investors direct exposure without needing to hold the token.
Industry Reactions and Market Outlook
ETF specialists, including Nate Geraci, view this approval as a significant symbolic victory for Ripple after years of regulatory hurdles. Meanwhile, Canary Capital CEO Steven McClurg expects strong inflows, suggesting the XRP ETF’s debut could outperform Solana’s first-week trading activity.
The news comes amid renewed optimism across the crypto market, fueled by progress toward ending the U.S. government shutdown and the resurgence in digital asset prices. XRP has already begun to show upward momentum as traders anticipate new institutional demand.
Price Analysis and Future Implications
XRP is currently trading near $2.45, showing signs of stabilization after its recent rally. The chart indicates short-term consolidation following a strong upside move, while technical indicators such as RSI (42.4) suggest a cooling phase after being overbought.
The MACD remains close to a potential bullish crossover, hinting at renewed strength if buying pressure returns. Analysts believe that once the ETF officially begins trading, XRP could test the $2.70–$3.00 range in the short term, with a potential to extend gains toward $3.50 if broader market sentiment stays positive.
Canary’s Expanding ETF Lineup
This launch follows Canary’s recent approvals for Litecoin and HBAR ETFs, both of which used the same 8-A and CERT filing route to gain swift clearance. The XRP ETF will carry a 0.50% management fee, slightly higher than Bitwise’s 0.34%, and will track the XRP-USD CCIXber Reference Rate Index.
Key partners in the fund include U.S. Bancorp Fund Services as transfer agent, Gemini Trust and BitGo Trust as custodians, and Paralel Distributors LLC handling marketing operations.
With the final filings now in motion, XRP is on the brink of a historic week that could redefine its position in the ETF landscape.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
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