XRP is gaining attention as asset manager Canary Capital moves forward with plans to launch a spot XRP ETF. The firm submitted an updated S-1 filing that removes the delaying amendment from its application.
🚨SCOOP: @CanaryFunds has filed an updated S-1 for its $XRP spot ETF, removing the “delaying amendment” that stops a registration from going auto-effective and gives the @SECGov control over timing.
This sets Canary’s $XRP ETF up for a launch date of November 13, assuming the… pic.twitter.com/MKvEN23t5P
— Eleanor Terrett (@EleanorTerrett) October 30, 2025
This change allows the registration to go auto-effective. Crypto journalist Eleanor Terrett reports the ETF could launch on November 13 if Nasdaq approves the accompanying 8-A filing.
The timeline depends partly on the U.S. government’s reopening. If the SEC completes its review without objections, the launch could happen sooner. Additional staff comments could push the date back.
SEC Commissioner Paul S. Atkins recently indicated openness to companies using the auto-effective route during the government shutdown. Bloomberg ETF strategist Eric Balchunas noted that XRP filings lacked the same back-and-forth with the SEC that Solana had.
Canary Capital previously launched Solana and HBAR ETFs this week using similar 8-A filings. These filings allow ETFs to become effective within 20 days of application automatically.
The Rex-Osprey XRP ETF launched six weeks ago and recently crossed $100 million in assets. It operates under the ’40 Act structure, classifying it as an investment company rather than a standard commodity trust.
Bitwise Chief Investment Officer Matt Hougan believes an XRP ETF could become a billion-dollar fund within its first few months. He told DL News that XRP’s dedicated investor base could drive large inflows.
“The XRP Army will smash-buy the ETF” –@Matt_Hougan
Says spot xrp ETF will “easily become” a billion-dollar fund w/in first few months.
“Flows will dramatically exceed what people are expecting.”
Agree.
via @elpedrosolimano pic.twitter.com/xH4U58OVml
— Nate Geraci (@NateGeraci) October 29, 2025
Hougan said many people underestimate XRP because the crypto community is bearish on it. He pointed to the XRP Army as a group that loves the asset and could drive flows.
Around 20 XRP ETF applications are pending with the U.S. SEC. Bitcoin and Solana each have 23 filings, while Ethereum has 16 pending applications.
XRP is currently trading in the $2.50 to $2.70 range. Analysts tracking Elliott Wave counts suggest XRP may be in the early phase of Wave 3, which historically triggers major price moves.
[ $XRP ]
This one is for the XRP community, where I see some gurus preaching for the end of the cycle.
Bros, it is hard to see this range as anything less than a long reaccumulation after November's surge. In Elliott wave terms: an ABC with a sharp ending in the C wave. Very… pic.twitter.com/5GnnVTid3i
— Osemka (@Osemka8) October 30, 2025
One recently launched XRP vehicle has pulled in over $115 million in assets. Trading volumes in related futures markets have reached billions.
A firm is planning to raise over $1 billion for a publicly-traded entity focused on XRP accumulation. This type of buying could lock up supply and create scarcity dynamics.
Support near the $2.50 to $2.60 band remains intact. If XRP breaks and holds above $2.67 to $2.70, momentum could accelerate.
Some analysts see divergence between price and momentum indicators. Elevated selling pressure from large holders suggests short-term pullbacks are possible unless volume picks up.
Market watchers are monitoring two key levels. A sustained breakout above $2.70 could open a path to $3 and higher. A breakdown below $2.50 might signal consolidation.
Headlines around ETF approvals and corporate treasury purchases will likely influence XRP’s next moves. Real-world asset activity on the XRP Ledger also remains a focus.
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TLDR Solana (SOL) dropped 8% on Thursday, falling below $180 and erasing all year-over-year gains,…
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