Popular asset manager Canary Capital has revised its S-1 filing for the spot XRP ETF with the US Securities and Exchange Commission (SEC), removing the ‘delayment amendment’. This move is crucial as it signals an imminent launch of the fund, potentially set for November 13.

It’s notable that this follow-up comes after Canary updated its SOL ETF application recently, which successfully launched for trading earlier this week.

🚨SCOOP: @CanaryFunds released an updated S-1 for its $XRP spot ETF, eliminating the ‘delaying amendment’ hampering timely registration and providing the @SECGov with control over timing.

This positions Canary’s $XRP ETF for a projected launch on November 13, assuming regulatory approval…

As explained by Eleanor Terrett, the SEC’s Chair, Paul Atkins, is supportive of such filings, especially as more firms seek to utilize the auto-effective method during the ongoing government shutdown. Both Canary and Bitwise have adopted this strategy for their ETF filings concerning SOL, HBAR, and LTC.

Matt Hougan, CIO of Bitwise, recently expressed optimism, predicting that the XRP community will enthusiastically invest in the ETF, forecasting that it could quickly accumulate over a billion dollars within a few months if launched successfully. This sentiment was echoed by Nate Geraci, President of Nova Dius Wealth.

Major XRP Market Trends

Despite recent fluctuations following the Fed’s decision to cut interest rates, XRP remains in a favorable position among large-cap cryptocurrencies, hovering near $2.50. Analyst CW noted that two significant resistance levels could hinder further price appreciation towards the coveted $3 level.

In the short term, $XRP has two selling walls. If it breaks through these, there are no further resistances until $3.

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