The XRP market just hit a historic milestone as the first U.S. spot XRP ETF, Canary Capital’s XRPC, officially debuts on the Nasdaq, sending a bullish shockwave to the price of XRP and other assets in the market.
The launch gives time-honored investors direct access to XRP through regulated brokerage accounts, and analysts say it could be the spark that sends prices soaring in the coming weeks.
XRP's price moving sideways on the daily chart. Source: XRPUSD on Tradingview
First XRP ETF listing on Nasdaq unlocks recent demand
Nasdaq has certified the Canary Capital XRP ETFs to trade on exchange-traded XRPC, making it the first fully cash-backed XRP ETF in the US
The fund directly holds XRP and tracks the CCIXber XRP-USD benchmark index, offering institutions and retail investors a uncomplicated, regulated way to gain exposure without the need to manage portfolios or private keys.
The ETF’s approval comes after the fund filed a Form 8-A with the SEC, clearing key regulatory hurdles. Fellow heavyweights Franklin Templeton, Bitwise, CoinShares and 21Shares also have XRP ETF applications in the pipeline, signaling a second wave of products that could further boost liquidity and demand.
On-chain data already shows a change in behavior ahead of launch. Inflows from exchanges are falling, suggesting holders are accumulating rather than selling, even though XRP is trading in the $2.39-2.50 zone and consolidating above support near $2.20-2.40.
Analysts see XRP’s “melt-in-your-face” price rally as a technical coil
Popular cryptocurrency analyst Egra Crypto believes that XRP is entering the final phase of a major consolidation that could lead to a edged move within 4-6 weeks. Based on historical gains in 2017 and 2021, he notes that XRP is once again forming a enormous symmetrical triangle, typically a “compression before expansion” structure.
Using a Fibonacci projection, Egrag highlights potential long-term targets in the $10 to $37 range, while acknowledging that near-term market sentiment remains cautious.
He argues that impatience and emotional selling often precede the biggest moves higher and that today’s sideways move is more of a “preparation” than a weakness.
Adding fuel are the BlackRock narrative and macroeconomic tailwinds
There are also institutional narratives behind XRP. During Swell 2025, BlackRock’s Maxwell Stein described XRP Ledger as a scalable pipeline for trillions of dollars in tokenized assets and cross-border payments, solidifying XRP’s status as a utility-based asset rather than a purely speculative token.
With the Fed’s December interest rate decision looming and a potential shift in risk appetite, XRP currently finds itself at the crossroads of a powerful trio. Fresh ETF inflows, tightening technical benchmarks and growing institutional validation.
If these forces align, the XRPC launch could be remembered as the moment when the next substantial XRP rally truly began.
Cover photo from ChatGPT, XRPUSD chart from Tradingview
