XRP Rallies as Nasdaq Approves First U.S. Spot ETF Ahead of Market Open
XRP climbed over 3% on Wednesday after Nasdaq approved the first U.S. spot ETF linked to the Ripple-associated token, marking a major milestone for institutional adoption beyond Bitcoin and Ethereum.
ETF Approval Sets Stage for U.S. Launch
Nasdaq formally certified Canary Capital’s spot XRP ETF (ticker: XRPC) under the SEC’s 8(a) automatic-effectiveness rule, clearing it for trading at the U.S. market open on Thursday.
The fund will custody XRP through Gemini Trust Company and BitGo Trust Company, with benchmark pricing from the CoinDesk XRP CCIXber Index. The move expands the reach of spot crypto ETFs, creating the first regulated pathway for U.S. investors to gain direct exposure to XRP.
Analysts said the approval could spark fresh institutional flows, echoing the early adoption patterns seen in Bitcoin and Ethereum ETFs earlier this year.
On-Chain Trends Reflect Rising Interest
Network data showed a sharp uptick in XRP activity ahead of the ETF launch, with more than 21,000 new wallets created in 48 hours — the strongest growth in eight months. However, large holders appeared to take partial profits, with 1–10M XRP wallets offloading roughly 90 million tokens, introducing short-term supply pressure amid growing demand.
Market Performance and Volume Surge
XRP rose 3.28% to $2.48, outperforming the broader crypto market as traders positioned ahead of the ETF debut. The token broke through the $2.45 resistance zone, with volume spiking 31% above its seven-day average.
A session high of $2.52 was recorded on 163 million tokens traded — 143% above the daily average — before light profit-taking returned the price to the $2.46–$2.49 range. Despite the pullback, XRP held firmly above $2.40, confirming continued accumulation interest near support.
Technical Outlook
XRP’s short-term bias remains constructive, with higher lows forming between $2.40 and $2.46 in a rising channel. Immediate resistance lies at $2.52, followed by extension targets near $2.59 and $2.70.
Momentum indicators reinforce the bullish setup: the RSI remains below overbought levels, while MACD readings continue to widen in positive territory.
A sustained close above $2.47 would confirm upward continuation into Thursday’s ETF debut, whereas a drop below $2.38 could signal a short-term retracement toward lower support.
