Key Takeaways:
- 21Shares filed Amendment No. 3 for its spot XRP ETF, starting a 20-day SEC review.
- XRP jumped 5% as traders anticipate potential ETF approval by November 27.
- Institutional filings from Franklin Templeton, Grayscale, and Canary Capital signal coordinated XRP ETF rollout.
XRP Surges After 21Shares ETF Amendment Filing
Ripple (XRP) soared 5% to $2.32 following 21Shares’ submission of Amendment No. 3 to its proposed spot XRP ETF. The filing, under Section 8(a) of the Securities Act of 1933, starts a 20-day Securities and Exchange Commission (SEC) review period. If the SEC remains silent, the ETF could automatically launch by November 27, sparking optimism among traders and investors.
Analysts and market enthusiasts are watching closely. Eric Balchunas confirmed the filing on X (formerly Twitter), while prominent crypto commentator Scott Melker highlighted the potential for an automatic launch. Pro-XRP community members have even predicted a massive “god candle,” referencing explosive upward moves in the XRP price chart similar to the July 2023 surge following Judge Analisa Torres’ favorable ruling.
Institutional Momentum Signals a Coordinated XRP ETF Push
The 21Shares amendment comes amid a wave of institutional filings that suggest growing coordination around XRP ETF approvals. Franklin Templeton recently removed regulatory language from its S-1 registration, fast-tracking approval, while Grayscale submitted a second amendment to convert its XRP Trust, appointing key executives and legal counsel.
Also Read: What Franklin Templeton’s XRP ETF Filing Really Means for Crypto Investors
Canary Capital has also set its sights on a November 13 debut for its XRP ETF, pending Nasdaq approval. Together, these filings point to a potentially historic month for XRP as it moves closer to joining Bitcoin and Ethereum in the spot ETF market. Institutional coordination could significantly boost liquidity and adoption for Ripple.
Market Implications and Technical Outlook
XRP’s price reaction to these developments shows heightened investor enthusiasm. The concept of a “god candle”—a sudden, massive green candlestick on a chart—underscores the potential for rapid, sharp gains if ETFs are approved and go live. Historical precedents, like the July 2023 surge, show that timely news combined with market sentiment can drive remarkable price action.
Also Read: XRP Undervalued or Overhyped? Data Suggests a Bullish Surprise
Investors should monitor the SEC review closely. A silent SEC during the 20-day window could trigger automatic ETF approvals, marking a key milestone for Ripple and institutional cryptocurrency markets.
