The momentum surrounding the potential launch of an XRP exchange-traded fund (ETF) is accelerating, as several prominent financial institutions, including Franklin Templeton, Bitwise, and Canary Capital, make strategic moves to bring their XRP-backed products to the U.S. market. These developments are stirring optimism among investors, with a possible ETF rollout projected for mid to late November.
Franklin Templeton, a heavyweight in global investment management, recently submitted an amended S-1 filing to the U.S. Securities and Exchange Commission (SEC), eliminating the “8(a)” clause. This clause previously allowed the SEC to indefinitely postpone the approval of new ETFs. By removing it, Franklin Templeton effectively sets the stage for an automatic approval process after a standard 20-day waiting period, even amid potential SEC inactivity due to any government shutdown. According to the firm’s updated filing, the XRP ETF could debut as early as November 13.
Franklin Templeton isn’t alone in this effort. Bitwise and Canary Capital are also maneuvering toward a November launch by modifying their own ETF applications. These firms have similarly removed the delaying language in their filings, aiming to expedite regulatory clearance. On October 31, market analyst Eleanor Terrett noted that Canary Capital’s spot XRP ETF might be the first to go live, contingent on Nasdaq’s acceptance of their Form 8-A registration — the final procedural hurdle before trading can commence.
If approved, both Franklin Templeton and Canary Capital may launch their ETFs around the same date, potentially on November 13. Bitwise, meanwhile, is targeting a slightly later release window between November 19 and 20. In total, seven XRP spot ETF applications are pending SEC approval, with other notable applicants including Grayscale, 21Shares, and WisdomTree, all of whom have submitted updated S-1 forms.
The excitement stems not only from institutional involvement but also from the potential impact on XRP’s price. Market analysts suggest that the introduction of an XRP ETF could invigorate the token’s performance, particularly as it hovers near a death-cross scenario — a bearish technical pattern where the short-term moving average crosses below the long-term one.
Historically, crypto ETFs have served as gateways for institutional investors to access digital assets in a regulated format, bypassing the complexities of direct ownership. This has often led to short-term price surges. However, recent examples provide a cautionary tale. The launch of Bitwise’s Solana Staking ETF on October 28 briefly propelled SOL above $200, only for the asset to plunge to around $157 shortly after, emphasizing that ETF-driven rallies may be fleeting unless supported by broader market momentum.
Currently, XRP is stabilizing after a significant correction that saw it dip toward the $2.10 level. The 30-period moving average, sitting at $2.23, now acts as immediate resistance. The Relative Strength Index (RSI) has started to bounce back from oversold territory and is hovering around 48 — a neutral reading that suggests a potential shift in sentiment if buying volume increases.
If ETF launches proceed as expected, XRP could break above the $2.40 to $2.60 zone, a critical range where former support has morphed into resistance. Strong bullish momentum beyond this point could open a path toward the $3.00 mark. Conversely, if the ETF news fails to catalyze a price rally, XRP risks retreating to the psychological support of $2.00.
Despite short-term technical uncertainty, the ETF narrative remains the most promising driver for a medium-term recovery. Institutional capital flowing through ETFs could bring much-needed liquidity and legitimacy to the XRP ecosystem.
Beyond price implications, the arrival of XRP ETFs would mark a notable milestone in the broader adoption of blockchain assets within traditional finance. ETFs offer retail and institutional investors a straightforward way to gain exposure to cryptocurrencies without dealing with wallets, custody, or security issues. This simplicity could attract a new wave of participants to the market, potentially increasing demand for XRP.
Furthermore, regulatory approval of XRP ETFs would be symbolically significant, especially in light of the ongoing legal battle between Ripple Labs and the SEC. A green light from the regulator for an XRP-based investment product could be interpreted as a sign of softening regulatory attitudes toward the asset, even if the lawsuit remains unresolved.
For asset managers like Franklin Templeton and Bitwise, the launch of an XRP ETF represents an opportunity to diversify their crypto offerings and capitalize on growing investor appetite for altcoin exposure. Bitcoin and Ethereum may still dominate the institutional narrative, but the inclusion of XRP signals a shift toward a broader acceptance of non-Ethereum-based ecosystems.
In addition, the potential success of XRP ETFs may influence the regulatory trajectory for other altcoins seeking similar products. If XRP ETFs attract significant inflows and demonstrate market stability, it could pave the way for other crypto assets like Cardano, Polkadot, or Stellar to enter the ETF space.
For now, all eyes remain on mid-November. Should the filings clear the final regulatory obstacles, XRP ETFs could begin trading within weeks, potentially reshaping the token’s market dynamics and offering a new tool for investors to navigate the digital asset landscape.