- Canary Capital’s spot XRP ETF has reportedly received “automatic approval” for a Nasdaq listing.
- The ETF (ticker $XRPC) is expected to begin trading this week, marking the first-ever spot XRP ETF in the U.S.
- Analysts see this as a major bullish catalyst, with one model projecting a near-term pullback to $1.90 followed by a rally to $6.
XRP price is all set for a sizable rally after reports circulated that Canary Capital’s spot XRP ETF has reportedly received “automatic approval” for a Nasdaq listing. Trading is expected to begin this week under the ticker $XRPC, making it the the first-ever XRP ETF in the United States.
The ETF’s debut under the 1933 Securities Act and the end of the US government shutdown could “open the floodgates” for many spot crypto ETFs, as per ETF Institute founder Nate Geraci.
Related: SWIFT’s ISO 20022 Mandate Puts Compliant Blockchains Cardano, XRP, in Focus
Canary’s ‘XRPC’ Uses 1933 Act Path for Nasdaq Listing
Canary submitted its Form 8-A with the US Securities and Exchange Commission on November 10, finalizing the process for the ETF’s launch. The filing automatically makes the XRP ETF effective, with only a CERT filing pending to confirm its trading date.
Nasdaq has approved the listing, and the ETF’s investment objective will be to provide direct exposure to XRP’s market price performance. Canary Capital CEO Steven McClurg said the XRP ETF could double what Solana did in its first week.
Analysts Model ‘Pullback-to-$6’ Rally
Prominent crypto analyst Ali Martinez shared a chart showing a potential price setup for XRP that suggests a near-term pullback to around $1.90 could present an attractive entry point before a major breakout.
The analysis points to key resistance zones at $2.60, $3.30, $4.20, and $5.40, with the possibility of XRP climbing as high as $6 if the ongoing bull cycle extends into 2026. According to Martinez, the next few months could be very important for XRP, especially as the market consolidates.
XRP Price Analysis: $3.50 Looms as Key Breakout Level
As per the chart below, XRP trades at around $2.45, showing a slight decline of about 2.74%. Immediate resistance levels appear near $2.61 and $2.95, corresponding to the 0.382 and 0.618 retracement levels, while stronger resistance lies around $3.20 and $3.51.
Above these, Fibonacci extensions project possible bullish targets at $4.40, $5.84, $7.28, and even $8.18.
Meanwhile, the RSI stands at 50 while the Chaikin Money Flow (CMF) slightly above zero indicates mild buying pressure returning to the market.
Notably, if XRP manages to hold above the $2.60–$2.95 region and confirm a breakout above $3.50, investors can expect a move toward $4.40 and beyond.
Related: Are XRP Bulls Faking the Rally? A $2 Dip Could Be Next
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