Token rallies through key resistance with 31% volume surge as Nasdaq certifies first US spot XRP ETF.
News background
As of 5:30 pm ET, Canary Capital’s XRP Spot ETF (ticker XRPC) officially goes live after Nasdaq certified the listing, authorizing the launch of the product on the US open market on Thursday. The approval finalizes the first US publicly traded XRP fund and marks one of the fastest accelerations through the SEC’s 8(a) self-effectiveness process.
The ETF will custody XRP through Gemini Trust Company and BitGo Trust Company while using the CoinDesk XRP CCIXber benchmark for pricing. Industry analysts see XRPC as the first major expansion of spot cryptocurrency ETPs beyond Bitcoin and Ethereum, with expectations that institutional flows will mirror previous adoption cycles.
The listing comes amid significant positioning activity. On-chain analytics show that more than 21,000 new XRP wallets were created in 48 hours, the strongest network expansion in eight months. However, whale behavior remains mixed, with between 1 and 10 million
Price Action Summary
XRP rose 3.28% to $2.48 on Wednesday, outperforming the broader crypto market by 3.73 percentage points as traders piled up positions in the ETF event. The token broke through the $2.45 ceiling that limited advances earlier in the week, with volume rising 30.81% above the seven-day average, confirming institutional commitment.
The overnight price action produced a session high of $2.52 on 163 million tokens traded (143% above the 24-hour average) before measured profit-taking saw the asset return to the $2.46 to $2.49 consolidation band. The ability to hold above $2.40 throughout the session reflected strong support from the supply side despite the ongoing whale distribution.
Short-term technicals strengthened towards the close. Higher lows of $2.40 to $2.46 formed an ascending structure, while intraday declines were met with immediate absorption, behavior consistent with ETF-driven positioning phases seen in other cryptocurrency spot launches.
Technical analysis
XRP maintains a constructive ascending channel, with intraday lows rising from $2,459 to $2,471. Resistance lies at $2.52, the overnight rejection point, followed by extensions above $2.59 and the psychological region of $2.70.
Momentum indicators reinforce bullish continuation potential: RSI remains below overbought territory on the 4-hour chart and MACD velocity continues to widen in a positive trend. Breakout volume remains the main confirmation signal, with 163 million tokens traded during the upward momentum validating institutional participation.
A drop below $2.38 would weaken the structure, but holding above $2.40 preserves the bullish bias at the ETF’s Thursday open.
What traders should know
• Support/Resistance:
Primary support at $2.40; secondary at $2.33. Resistance at $2.52, then extension targets between $2.59 and $2.70.
• Volume dynamics:
Breakout volume of 163 million (+143%) confirms ETF-driven accumulation. Sustained impressions above the 7-day average are required to validate tracking.
• Chart structure:
The ascending channel with higher lows indicates a continuation of the breakout towards $2.63 – $2.72 due to ETF-related inflows.
• ETF Catalyst:
XRPC launches Thursday at US open, the most important short-term volatility driver. The flows will determine whether XRP enters a BTC-style “ETF reclassification” phase.
• Risk Management:
Bullish thesis remains above $2.38; The failure opens the fall towards USD 2.33-USD 2.27. Upside claims $2.59 and $2.70 if $2.52 breaks the volume.
