News Author: Crypto Emergency

On November 13, 2025, trading of the first spot ETF on XRP began on the American exchange Nasdaq — a product from Canary Capital under the ticker XRPC. Approval from regulatory authorities was received the day before, on November 12, marking an important milestone for the recognition of XRP as a full-fledged financial asset.

This launch continues the wave of altcoin ETF appearances and reflects the growing interest of institutional investors in regulated cryptocurrency products. It also demonstrates the convergence of traditional finance with digital assets.

Regulatory Path and Certification
Canary Capital utilized the automatic registration process under Section 8(a) of the Securities Act of 1933. After filing Form 8-A and removing the delaying amendment, a 20-day window for automatic approval began. Nasdaq Regulation sent an official certification to the SEC, which was the final step towards the launch.

The chosen timing coincided with reduced SEC activity due to the government shutdown, which may have contributed to an expedited approval process.

The altcoin market and institutional interest
The launch of the XRP ETF was a continuation of the recent debut of spot funds on Solana, Litecoin, and Hedera. For example, the Bitwise Solana ETF showed trading volume of $56 million on the first day and $72 million on the second. This confirms the high demand for regulated investments in altcoins.

The XRP futures ETF from REX-Osprey, launched in September, raised $24 million in the first 90 minutes of trading and exceeded $100 million by October. This underscores interest in XRP even before the appearance of a spot product.

As of November 13, 11 XRP ETF products are registered on the DTCC website from companies such as Bitwise, Franklin Templeton, 21Shares, and CoinShares. This became possible after the SEC published guidance on crypto-ETPs in July 2025.

Investor Behavior and On-Chain Signals
According to Glassnode, over 216 million XRP was withdrawn from exchanges in the week leading up to the launch, which may indicate bullish sentiment. However, 'whales' reduced their holdings by 10 million XRP, while long-term holders sold 135.8 million XRP, which may suggest a 'sell on news' strategy.

Active XRP addresses reached three-month highs, and the delta of cumulative volume became positive, indicating growing interest from retail investors.

Technical Picture and Price Outlook
At the time of launch, XRP was trading around $2.39. Analysts predict a potential rise to $5 in Q4 2025, provided there is an influx of institutional funds and low supply. Technical analysis indicates a 'falling wedge' pattern with a breakout level at $2.88 and support at $2.31.

The rise in XRP dominance amid a decline in Bitcoin's share of the total cryptocurrency market capitalization indicates a rotation of interest. Support for crypto-ETFs from BlackRock strengthens institutional sentiment, although its impact on XRP remains indirect.

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