November is shaping up to be a crucial month for numerous altcoins, with the potential launch of multiple exchange-traded funds (ETFs) tracking their performance. At the forefront of this ETF news is XRP, thanks to the large number of applications submitted for ETFs based on this digital asset.
**ETF Updates**
Following last week’s amendments filed by Canary Capital, here are some of the latest developments on the ETF front. Notably, 21Shares recently submitted a new filing that, like some of the recent applications, does not include a “delayment amendment.” This omission suggests that the product could be approved and launched approximately 20 days after the filing date. For 21Shares’ application, this timeline points to a potential launch date of November 27—provided the U.S. Securities and Exchange Commission (SEC) does not raise any objections.
In addition, Franklin Templeton has updated its S-1 filing, with its XRPZ ETF application now registered with the Depository Trust & Clearing Corporation (DTCC).
Current data from Polymarket indicates that the market’s expectations for a spot XRP ETF to debut in the U.S. this year remain extremely high—above 99%. Many industry experts believe that the first XRP spot ETF could start trading as soon as next week.
**Price Warnings Amid ETF Progress**
Despite the positive momentum on the ETF front and encouraging company news such as recent investment rounds and acquisitions, XRP whales have been engaging in significant sell-offs. Data from analyst Ali Martinez shows that these large holders have offloaded an additional 500,000 XRP tokens in the past 48 hours alone, continuing a pattern of substantial disposals.
As a result, Martinez expresses caution about the asset’s near-term price performance. Although XRP has rebounded from recent lows around $2.10 and is currently up over 5% on the day, the analyst warns that further downside pressure could be ahead, with prices potentially dipping to or below the $2.00 level.
Interestingly, a similar outlook was shared recently by IncomeSharks, who predicted that XRP buyers might soon have the opportunity to purchase the token below $2.00.
**Conclusion**
While the excitement around XRP ETFs builds and could drive future demand, investors should remain mindful of potential volatility as large holders continue to sell substantial amounts of the token. Stay tuned for further updates as November progresses.
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