XRP Price: Gains as First Spot ETF Launches on Nasdaq After SEC Approval

TLDR

• Nasdaq has certified the Canary Capital XRP ETF for trading under ticker XRPC, making it the first single-token spot XRP ETF
• Trading began today after the fund completed its Form 8-A filing with the SEC
• The ETF holds XRP directly and tracks the XRP-USD CCIXber Reference Rate Index
• Multiple other asset managers including Franklin Templeton, Bitwise, CoinShares, and 21Shares have filed for similar XRP funds
• XRP is currently trading at $2.39 with technical indicators showing consolidation and potential for movement toward $2.85-$3.00

Nasdaq has officially certified the Canary Capital XRP ETF for trading. The fund began trading today under the ticker XRPC.

This makes Canary Capital the first issuer to launch a fully spot-based XRP ETF. The fund is registered under the Securities Act of 1933.

The ETF will track the XRP-USD CCIXber Reference Rate Index. Investors can now access XRP exposure through traditional brokerage platforms.

Fox Business journalist Eleanor Terrett confirmed the approval. She reported that the fund cleared all regulatory requirements.

Bloomberg analyst Eric Balchunas also verified that trading started today. The announcement came after Canary Funds filed its final Form 8-A with the SEC earlier this week.

Steven McClurg serves as CEO of Canary Funds. He expressed excitement about the launch in a statement.

The approval follows a period of regulatory uncertainty for crypto products. SEC Chair Paul Atkins recently emphasized the need for clearer frameworks on crypto regulation.

Other ETF Applications in Pipeline

Several other asset managers have amended their applications for XRP funds. Franklin Templeton, Bitwise, CoinShares, and 21Shares have all filed for similar products.

Data from the DTCC suggests these listings may launch soon. ETF expert Nate Geraci noted that XRPC would be the fourth single-crypto ETF in the market.

The existing single-crypto ETFs cover Bitcoin, Ethereum, and Solana. The XRP fund expands options for crypto investors using traditional investment accounts.

The fund’s structure allows it to hold XRP directly rather than using derivatives. This distinguishes it from futures-based products.

Market Response and Price Action

XRP is currently trading at $2.39. The price declined 4.1% in the past 24 hours.

The daily chart shows consolidation above support at $2.20. The RSI indicator remains in neutral territory.

Technical analysts suggest the market may be slowing before another upside attempt. If buying pressure builds, XRP could challenge the $2.85 to $3.00 range.

On-chain data shows exchange inflows have decreased. Trade volume remains stable at current levels.

Lower inflows often precede positive price movement. Holders appear to be accumulating rather than selling.

The ETF news has sparked renewed community optimism. Social media posts from crypto analysts highlighted the approval’s importance.

Some analysts compared the launch to early Bitcoin and Ethereum spot ETF debuts. Those products saw substantial inflows in their first weeks of trading.

The approval comes after the U.S. government shutdown ended. President Donald Trump signed a bill to reopen the government.

Analysts believe returning liquidity could boost crypto markets. The timing of the ETF launch aligns with improved market conditions.

The Canary Capital XRP ETF holds XRP directly and lists on Nasdaq under ticker XRPC, with trading active as of today.

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