Canary filed an updated S 1 for its spot XRP exchange-traded fund, removing the “delaying amendment” that kept the product pending with the U.S. Securities and Exchange Commission. If this clause is removed, the issuer will give you the option to permit the registration to take effect by itself schedule fairly than that of the SEC.
XRP faces every day EMA ribbon rejectionXRP holds key 2.55 zone as monthly close looms Canary XRP ETF prospectus extract. Source: US SEC/X
The filing states that the XRP ETF shall be eligible for listing on November 13, 2025 when Nasdaq signs the separate listing application on Form 8A. This exchange approval is now the crucial step before trading begins.
Canary also confirmed that it already has XRP trading counterparties and named Flowdesk, Cumberland DRW, FalconX and Virtu as liquidity providers once the fund begins launch and redemption. This construct mirrors what the corporate did earlier this month for its Solana, Litecoin and Hedera products.
Today’s move is very important as other XRP ETF applicants are still within the SEC queue. Canary is the primary company to place its filing into “Ready to Go” mode under the brand new spot crypto ETF standards that the SEC adopted in September. If Nasdaq clears the listing on time, this shall be the primary US spot XRP ETF to hit the market.
XRP faces every day EMA ribbon rejection
XRP tested the EMA band cluster on the every day chart and did not break above it. The rejection occurred near the two.57-2.70 USDT zone on Bybit, where several short-term moving averages overlapped and formed a compressed resistance band. After the strong rebound from the long lower wick, the value attempted to interrupt into this band, but sellers defended the realm and compelled XRP back below the band. The move confirms that this zone remains to be acting as dynamic resistance fairly than support.
XRPUSDT Daily EMA Band Rejection. Source: Steph is Crypto on X
The graphic shows why this area is very important. In early July and again in September, XRP traded above the identical band stack, using it as a launching pad to advance towards the three.20 USDT region. Now the structure is turned over. The bands turned down, unfolded and tilted above the value, which normally means the momentum is to the downside until the candles close above all the cluster. As long as XRP stays under control, any retest could end in profit-taking and latest shorts from traders watching the moving averages confluence.
However, the rejection doesn’t cancel the recovery attempt. The price remains to be holding above the post-spike low and continues to record higher intraday troughs after the long flush wick. This shows us that buyers are there, but they need a clean close above the top quality to regain control. Until this happens, the band zone around 2.60-2.75 USDT stays the important thing upper limit for XRP and the market is trading in a correction phase fairly than a confirmed trend resumption.
XRP holds the important thing 2.55 zone because the monthly close approaches
XRP ended the last every day session in bearish mode, however the chart still shows a transparent line that is very important. CRYPTOWZRD said price must stay above 2.5500 USDT to maintain the structure in bullish territory; Falling below this level again would send the market right into a sideways movement again and decelerate the momentum. The signal is easy: Above 2.55, buyers can press; XRP is prone to fluctuate below 2.55.
Daily technical outlook for XRP. Source: CRYPTOWZRD on X
The analyst also referred to the calendar. The upcoming monthly close will determine how strong this recovery phase looks on higher time frames. If XRP closes the month near or above this short-term support, the candle will confirm that demand has increased following the recent decline. If it closes below that, the market needs more consolidation before the following move. Since Bitcoin often sets intraday sentiment, the update noted that BTC price motion will shape XRP's next push and traders should control the lower time frames as BTC sets the direction.
From an intraday perspective, the post highlighted a descending structure that keeps limiting XRP rallies. Price is pushing against this trendline but will not be breaking through it yet, so sellers still control the top quality. A decisive break above the road, while maintaining 2.55 as the ground, would flip the image back to a clearer bullish setup. Until this happens, traders should expect further fluctuations throughout the band shown on the chart.
