Canary Capital filing signals spot XRP ETF set for launch this week

💡 DMK Insight

XRP’s potential ETF launch is a game-changer, and here’s why: Canary Capital’s filing for an XRP ETF could ignite significant buying interest, especially if it launches as planned. With XRP currently at $2.44, this development may attract institutional investors who have been hesitant due to regulatory uncertainties. The ETF could provide a more accessible way for retail and institutional traders to gain exposure to XRP without the complexities of direct token ownership. But don’t overlook the risks—if the SEC delays or rejects the filing, we might see a sharp sell-off. Traders should keep an eye on the $2.50 resistance level; a breakout could signal a bullish trend, while a drop below $2.30 might indicate a bearish reversal. Watch for volume spikes around the ETF announcement, as they could provide clues about market sentiment and potential price movements in the short term. This is a pivotal moment for XRP, and how the market reacts could set the tone for the coming weeks.