The buzz around XRP ETFs has been growing this week following new signs of development. ETF analyst Eric Balchunas reported that Canary Capital filed Form 8-A for the XRP ETF last night. This application is one of the final steps before the fund becomes active.
Balchunas explained that when Canary made a similar filing for the HBAR ETF earlier this year, the launch happened the next day. If this pattern repeats, Thursday could be the official debut of the XRP ETF. Although not confirmed, all signs point to the fund being ready, he said.
The anticipated launch comes as the U.S. government reopens after a brief shutdown. The resumption of normal operations paves the way for pending ETF approval, increasing the feeling that XRP could soon join Bitcoin and Ethereum in the regulated ETF market.
XRP price comes under pressure ahead of launch
Despite the heightened expectations, the price of XRP has fallen more than 3% in the past 24 hours to around $2.43. The overall market has also fallen as the temporary boost from headlines about the government’s reopening of the economy has dissipated.
Analysts say XRP remains above a key support level near $2.20. The next resistance level is between $2.63 and $2.72, so it is important to maintain this range. Beyond this zone, there is a possibility that it will be the stage for further rise.
Failure to build momentum could lead to another decline towards sub-$2, but if ETF approval is received this week, buyers could regain control and push prices higher.
Is XRP likely to repeat the HBAR ETF rally?
When the HBAR ETF was launched earlier this year, billions of dollars in trading volume arrived and the token posted double-digit appreciation within hours. Many investors are wondering if XRP will follow the same pattern once ETF trading begins.
Some community members have shared bold predictions that XRP could rise to $6, $10, or even more. However, Bill Morgan, a lawyer who closely watches XRP, predicts that a more realistic move would be an increase above $3 in the near term.
The XRP ETF allows institutional investors to gain exposure to the token through a regulated market, which could potentially lead to significant capital inflows.
A big moment for XRP
XRP is at a critical stage. Although it has managed to stay above an important support level, the coming days will determine whether the current trend continues up or weakens.
If the ETF launches as expected and investor sentiment remains positive, XRP could move further toward $3. If momentum weakens, a drop below $2.20 could lead to a broader pullback.
The upcoming launch of Canary Capital’s XRP ETF could mark one of the most important moments for the asset since the end of Ripple’s lawsuit with the SEC, potentially opening the door to broader institutional investment in XRP.
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