Key Insights
- XRP is consolidating under the $2.70 mark as traders await clarity on a U.S.-listed spot ETF approval.
- Canary Capital’s XRP ETF could be auto-approved by November 13, aligning with recent crypto ETF success paths.
- A breakout above $2.70 could shift long-term structure, drawing renewed institutional and retail attention.
XRP continues to trade just below the $2.70 resistance level as investors closely monitor regulatory developments around a potential U.S.-listed spot ETF. The token is currently priced at $2.50, reflecting a 2.1% decline for the day. Despite the intraday loss, XRP maintains a 1.9% gain for the week, signaling ongoing investor interest ahead of a key regulatory milestone.
The focus has turned to Canary Capital, which has amended its ETF filing by removing a delaying clause. This move could allow its XRP ETF to become auto-effective by November 13, subject to review by Nasdaq. The same route led to successful ETF listings for Solana, Litecoin, and Hedera, all of which are already trading.
ETF Optimism Pushes Momentum Toward $2.70
XRP has been consolidating beneath $2.70 throughout October. Higher lows and higher highs have defined recent trading activity, but the ceiling remains unbroken. A decisive move above $2.70 would be critical, potentially turning the level into long-term support. ETF optimism could provide the required momentum.
The $2.70 level has served as a barrier throughout the year, often triggering swift rejections and pullbacks below $2. Each breakout attempt has met high-volume sell-offs, preventing the token from establishing a sustainable upward trajectory. This has limited bullish sentiment despite broader positive signals in the crypto market.
Technical Indicators Show Caution Remains
XRP remains under its 200-day moving average, a technical metric watched by many traders. This suggests limited buying interest and persistent caution in the absence of a confirmed catalyst. Even as global macro conditions improve, XRP’s movement remains tied to ETF-related developments.
With no SEC objections reported, the path appears clearer for the XRP ETF to advance. If the ETF listing proceeds without regulatory delays, XRP could become the next major digital asset with a U.S.-listed spot product. Such a development would likely influence market structure around the $2.70 level and introduce institutional interest.
