The XRP market has just reached a historic milestone as Canary Capital’s XRPC, the first spot XRP ETF in the US, officially debuts on the Nasdaq, sending a bullish shockwave through the XRP price and other assets in the market.
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The announcement allows traditional investors direct exposure to XRP through regulated brokerage accounts, which analysts say could be the catalyst for the price to skyrocket in the coming weeks.
XRP's price moving sideways on the daily chart. Source: XRPUSD on Tradingview
Nasdaq’s first spot XRP ETF opens up new demand
Nasdaq has authorized the Canary Capital XRP ETF to trade under the ticker XRPC, making it the first fully spot-based XRP ETF in the United States.
The fund directly holds XRP and tracks the XRP-USD CCIXber reference rate index, offering an easy and regulated way for institutional and retail investors to gain exposure without managing wallets or private keys.
The ETF’s approval comes after the fund completed its Form 8-A filing with the SEC and cleared key regulatory hurdles. Other leading companies such as Franklin Templeton, Bitwise, CoinShares, and 21Shares also have XRP ETF applications in the pipeline, suggesting a second wave of products with potential for deeper liquidity and demand.
On-chain data is already showing changing dynamics ahead of the launch. Exchange inflows are decreasing, suggesting that holders are accumulating rather than selling, even as XRP trades around the $2.39-$2.50 zone and consolidates support around $2.20-$2.40.
Analysts see ‘face-melting’ XRP price rise as technical coil
Popular cryptocurrency analyst Egrag Crypto believes that XRP is entering the final stages of a major consolidation that could lead to an explosive move within 4-6 weeks. Citing the historic rally in 2017 and 2021, he pointed out that XRP is once again forming a large symmetrical triangle, typically a “compression before expansion” structure.
Egrag uses Fibonacci predictions to highlight a potential long-term target between $10 and $37, while acknowledging that short-term market sentiment remains cautious.
He argues that impatience and emotional selling often precede the biggest bulls, and that today’s sideways movement is more of a “preparation” than weakness.
BlackRock story and macro tailwinds gain momentum
There is also an institutional story behind XRP. At Swell 2025, BlackRock’s Maxwell Stein described the XRP Ledger as a scalable rail for trillions of dollars of tokenized assets and cross-border payments, reinforcing XRP’s status as a utility-driven asset rather than a purely speculative token.
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XRP currently sits at the intersection of a powerful trio as the Fed’s December interest rate decision approaches and risk appetite is about to change. An influx of new ETFs, stricter technical patterns, and increased institutional validation.
If these forces align, the launch of XRPC may be remembered as the moment when XRP’s next big rally truly began.
Cover image is from ChatGPT, XRPUSD chart is from Tradingview
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