Community expects first US spot XRP ETF to launch on Thursday

💡 DMK Insight

XRP’s current price of $2.49 is underpinned by speculation around the Canary Capital spot ETF, and here’s why that matters: The potential launch of this ETF could significantly boost liquidity and institutional interest in XRP, especially if it occurs before the SEC’s formal approval. Traders should be aware that such a move might create a short-term surge in buying pressure, pushing XRP towards resistance levels around $2.75. However, if the SEC delays or denies approval, we could see a sharp correction, possibly testing support at $2.20. It’s crucial to monitor trading volumes and sentiment around ETF news, as these will likely dictate price movements in the near term. On the flip side, while the ETF hype is enticing, it’s worth questioning whether the market has already priced in this potential outcome. If the excitement fades, XRP could experience a pullback. Keep an eye on the next few weeks as we approach any announcements, as volatility is expected to increase significantly during this period.