Talk around XRP ETFs has grown louder after new signs of progress this week. ETF analyst Eric Balchunas reported that Canary Capital filed Form 8-A for its XRP ETF last night. This filing is one of the final steps before a fund becomes active.
Balchunas explained that when Canary made a similar filing for its HBAR ETF earlier this year, the launch followed the next day. If that pattern repeats, Thursday could be the official debut of the XRP ETF. While not confirmed, he said that all signs point to the fund being ready.
The expected launch comes as the U.S. government reopens after a short shutdown. The return of normal operations clears the way for pending ETF approvals and adds to the sense that XRP could soon join Bitcoin and Ethereum in the regulated ETF market.
XRP Price Under Pressure Ahead of Launch
Even with growing anticipation, XRP’s price has slipped by more than 3 percent in the past 24 hours to around $2.43. The broader market is also lower after the short-lived boost from the government reopening headlines faded.
Analysts say XRP remains above a key support level near $2.20. Holding that range is crucial, as the next resistance sits between $2.63 and $2.72. A move above this zone could set the stage for another rally.
A failure to build momentum may lead to another decline toward $2 or below, but if ETF approval arrives this week, buyers could regain control and push the price higher.
Could XRP Repeat HBAR’s ETF Gains?
When HBAR ETFs launched earlier this year, the token saw double-digit percentage gains within hours as billions in trading volume arrived. Many investors are wondering if XRP will follow the same pattern once its ETF begins trading.
Some community members have shared bold predictions, saying XRP could rise to $6, $10, or even higher. However, attorney Bill Morgan, who follows XRP closely, predicts a more realistic move would be a climb past $3 in the short term.
An XRP ETF would allow institutional investors to gain exposure to the token through regulated markets, a development that could bring significant capital inflows.
A Critical Moment for XRP
XRP is at an important point. It has managed to stay above important support levels, but the next few days will likely decide whether the current trend continues upward or weakens.
If the ETF launches as expected and investor sentiment stays positive, XRP could make another run toward $3. If momentum fades, a drop below $2.20 could lead to a wider pullback.
The coming launch of Canary Capital’s XRP ETF could mark one of the most important moments for the asset since the end of Ripple’s court case with the SEC, potentially opening the door to broader institutional participation in XRP.