Ripple’s XRP is poised for a notable market moment as the first XRP exchange-traded fund (ETF) officially launches amid ongoing regulatory and political developments in the US. Canary Capital’s XRP ETF began trading on Nasdaq on November 13, 2025, marking a significant milestone for the asset and its broader adoption.
While the US government recently ended a 41-day shutdown, regulatory uncertainties remain. Other XRP ETF filings from major issuers like Bitwise and Franklin Templeton are expected to debut later this month, depending on the Securities and Exchange Commission’s (SEC) review pace.
ETF Launches During Government Shutdown
The Canary XRP ETF leveraged a regulatory clause that allowed automatic approval 20 calendar days after filing a Form 8-A registration, despite the government shutdown. This mechanism, used recently by other crypto ETFs such as those for Hedera (HBAR), Litecoin (LTC), and Solana (SOL), allowed Canary’s ETF to go live without direct SEC intervention.
Bitwise and Franklin Templeton also filed for XRP ETFs but their product launches are scheduled for November 20 and 24, respectively. As the SEC staff resumes work post-shutdown, these filings will likely require explicit agency approval, potentially causing brief delays.
Pending XRP ETF Filings and Market Impact
In total, 11 XRP ETF applications are registered with the Depository Trust & Clearing Corporation (DTCC), a prerequisite for ETF launch. Other firms like 21Shares and CoinShares have pending filings but without the automatic 20-day approval trigger, which means their ETFs will require full SEC review.
The introduction of XRP ETFs is expected to boost institutional inflows, although price reactions may not be immediate or linear. Historical data from Bitcoin and Ethereum ETF launches show initial price dips before eventual new all-time highs.
Ripple’s Expanding Partnerships and Industry Support
Beyond ETFs, Ripple has strengthened its position through strategic partnerships. BlackRock’s Director of Digital Assets, Maxwell Stein, recently highlighted Ripple’s infrastructure as ready for large-scale blockchain adoption, suggesting the network could facilitate trillions in on-chain transactions.
Ripple also announced a collaboration with Mastercard, WebBank, and Gemini to pilot $RLUSD settlement on the XRP Ledger for fiat credit card payments. This initiative includes the Gemini XRP Credit Card, aiming to reduce settlement times from days to seconds by using blockchain-based rails.
Current XRP Price and Market Risks
At press time, XRP trades near $2.40, holding steady in a year-long range. Analysts project a potential rise to $5 or $6 following ETF approvals, mirroring previous crypto ETF market behaviors. However, significant XRP sell-offs, such as 90 million tokens moved by whales in recent days, highlight ongoing volatility risks.
Investors should consider these dynamics carefully as institutional products roll out and Ripple’s ecosystem evolves.
Summary of Key Dates and Developments
| Date | Event | Details |
|---|---|---|
| Oct 24, 2025 | Canary Capital files XRP ETF | Triggered 20-day automatic approval clock |
| Nov 13, 2025 | Canary XRP ETF launches | First XRP ETF listed on Nasdaq |
| Nov 20 & 24, 2025 | Bitwise & Franklin Templeton ETFs expected | Pending SEC manual approval |
| Nov 5, 2025 | Ripple announces Mastercard partnership | Initiates $RLUSD settlement pilot on XRP Ledger |
As the crypto industry monitors these developments, XRP ETF launches and strategic collaborations could influence digital asset adoption and market dynamics in the coming months.
