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The XRP worth slumped 3.9% over the previous 24 hours to commerce at $2.49 as of three:46 a.m. EST on buying and selling quantity that plunged 8% to $5 billion.
This comes as Canary Capital filed an up to date S-1 for its sport XRP ETF (exchange-traded fund), eradicating the “delaying modification” that allowed the SEC to regulate the timing of the registration.
The transfer units the stage for a possible launch on November 13, pending Nasdaq’s approval of the 8-A submitting.
🚨SCOOP: @CanaryFunds has filed an up to date S-1 for its $XRP spot ETF, eradicating the “delaying modification” that stops a registration from going auto-effective and offers the @SECGov management over timing.
This units Canary’s $XRP ETF up for a launch date of November 13, assuming the… pic.twitter.com/MKvEN23t5P
— Eleanor Terrett (@EleanorTerrett) October 30, 2025
After the replace, the ETF now qualifies to take impact routinely below part 8(a) of the 1933 Securities Act.
The transfer additionally comes at a time when the SEC Chair Paul Atkins has proven help for firms utilizing the auto-effective technique, which Bitwise and Canary have used to launch their SOL, HBAR, and LTC ETFs.
Atkins praised using the 20-day statutory ready interval through the shutdown, which highlights its effectiveness in facilitating public choices.
With the up to date submission, Canary’s XRP ETF can transfer ahead with out a formal SEC sign-off, and it seems able to proceed as soon as the statutory 20-day interval has handed. The one potential holdup can be if the SEC points further feedback or considerations.
XRP Worth Actions Sign Potential Bearish Continuation
After a robust rally in July that drove the XRP worth towards the $3.30 zone, the momentum shifted as bears regained management, triggering a retracement that developed right into a falling channel sample.
All through this section, bulls have been making an attempt to defend the $2.40–$2.45 help space, however latest market construction suggests sellers stay dominant.
The continued correction has pressured the Ripple token worth under its 50-day Easy Shifting Common (SMA), at the moment round $2.73, confirming that short-term momentum stays damaging. The 200-day SMA, at the moment round $2.62, is performing as a near-term pivot degree, and a break under it might open the door to additional draw back.
Regardless of the sooner Golden Cross (when the 50-day SMA crossed above the 200-day SMA), the latest pullback has neutralized that bullish sign, suggesting XRP might must retest deeper help ranges earlier than any restoration try.
Moreover, the Relative Power Index (RSI) at the moment sits close to 45.3, reflecting decreased shopping for stress and a tilt towards bearish sentiment.
Ripple Token Targets Help Close to $2.35
Given the present technical setup, the XRP worth seems poised to check its horizontal help zone round $2.35, an space that has held a number of instances in latest months.
A decisive shut under this degree might see the Ripple token slide additional towards $2.20, which aligns with the decrease boundary of the descending channel.
Conversely, if bulls handle to defend the $2.40 zone and push the value of the Ripple token above $2.73 (the 50-day SMA), XRP might try a breakout towards the higher channel boundary close to $2.80–$2.85.
A confirmed shut above that vary can be the primary sign of a possible bullish reversal.
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