XRP Surges Past $2.30 Mark Amid ETF and Network Momentum
The post XRP Surges Past $2.30 Mark Amid ETF and Network Momentum appeared on BitcoinEthereumNews.com.
XRP surged 3.6% to $2.31, breaking resistance at $2.28 with strong trading volume. Canary Capital’s revised XRP ETF prospectus moves closer to SEC review. XRP had a notable day on Saturday, climbing 3.6% to $2.31 and outperforming Bitcoin and Ethereum during that time. Its price broke above near-term resistance at $2.28 with volume 86% above, and this marks XRP’s largest one-day move in over a week. The move came as institutional developments started to mount while network activity on the blockchain increased. ETF Filings Enter Critical Review Phase Canary Capital Group filed a revised prospectus for its anticipated exchange-traded fund for XRP, putting the product one step closer to approval from the Securities and Exchange Commission. The fund would trade on Nasdaq under the symbol XRPC, with custodial service from Gemini Trust Company and BitGo Trust Company for safety. This change comes after 21Shares filed a similar application, officially triggering a timeline that, by law, would compel the SEC to make its first decision on funds based on XRP. Bloomberg analyst Eric Balchunas called the moment important and drew parallels between what happened here and the approval of Bitcoin and Ethereum products. These announcements served as a signal of a broader institutional interest in alternative exposure to digital assets beyond the two established assets. Ripple’s ecosystem showed a healthy amount of growth with 21,595 new wallets created in just 48 hours, representing the largest 48-hour increase in 8 months of activity. Technical indicators shifted to a bullish pattern, as XRP established higher lows during Saturday’s consolidation day, with buyers stepping in each time the price approached the $2.30 support level. Nevertheless, around 900,000 XRP tokens entered exchanges over a period of 5 days, which indicates that some traders may have taken profits at this level. Market participants can now keep…
Filed under: News - @ November 8, 2025 10:27 am