XRP Jumps as Nasdaq Approves First U.S. Spot ETF; Volume Surges 31%
XRP advanced sharply on Wednesday, climbing past key resistance as Nasdaq approved the first U.S. spot ETF tied to the Ripple-linked token — a milestone marking broader institutional access to the asset class.
Nasdaq Clears XRP ETF for U.S. Launch
Nasdaq officially certified Canary Capital’s spot XRP ETF (ticker: XRPC) under the SEC’s 8(a) automatic-effectiveness rule, finalizing approval for trading at the U.S. market open on Thursday.
The fund will custody XRP through Gemini Trust Company and BitGo Trust Company, using the CoinDesk XRP CCIXber benchmark for pricing. Analysts view XRPC’s launch as the next phase of spot-crypto ETF growth, expanding beyond Bitcoin and Ethereum toward diversified digital-asset exposure.
Market strategists expect the product to attract initial hedging and arbitrage activity from institutional desks, similar to early inflow patterns observed in spot BTC and ETH ETFs.
Network Data Highlights ETF Anticipation
On-chain data reflects a surge in XRP network activity ahead of the listing. More than 21,000 new wallets were created in just 48 hours — the strongest growth in eight months. However, large holders moved to secure profits, with 1–10M XRP wallets offloading about 90 million tokens, tempering near-term momentum despite the bullish backdrop.
Price and Volume Dynamics
XRP gained 3.28% to $2.48 on Wednesday, outperforming the broader market by nearly four percentage points as traders accumulated positions before the ETF debut.
The token broke through $2.45 resistance on volume that rose 31% above its seven-day average, signaling institutional demand. Intraday highs reached $2.52, with trading activity spiking to 163 million tokens — 143% above the daily norm — before measured profit-taking returned XRP to the $2.46–$2.49 range.
Despite late-session selling, XRP held firmly above $2.40, a key support level that continues to attract buying interest.
Technical Outlook
XRP’s short-term structure remains bullish, with ascending lows from $2.40 to $2.46 reinforcing the uptrend. Resistance is now seen at $2.52, followed by potential extensions toward $2.59 and $2.70 if ETF inflows build post-launch.
Momentum indicators favor continuation: the RSI stays below overbought levels, and MACD expansion supports ongoing strength. Sustained closes above $2.45–$2.47 would confirm trend continuation, while a move below $2.38 could shift sentiment toward short-term consolidation.
