XRP Price Tumbles Even As Canary XRP ETF Prepares To List On Nasdaq This Week

The XRP price dropped over 2% in the past 24 hours to trade at $2.45 as of 4:43 a.m. EST on trading volume that surged 21% to $5.4 billion.

This comes as the Canary Capital Spot XRP ETF (exchange-traded fund) prepares to launch on Nasdaq, likely on November 13.

Canary filed Form 8-A with the US SEC on November 10, which is the final step before the XRP ETF launch.

The spot XRP ETF is now auto-effective and likely to begin trading this week, pending CERT filing for details on the trading date.

Nasdaq approved the listing of Canary XRP ETF shares on the exchange under the ticker symbol XRPC.

Canary Capital CEO Steven McClurg said the “XRP ETF will probably double what Solana did in its first week.”

Several other XRP ETFs are also set to launch in the US this month, giving retail and institutional investors an easier way to access XRP through regulated markets.

ETF Store President Nate Geraci says that the end of the US government shutdown has opened the door for a wave of crypto ETF approvals.

XRP Price Struggles Below Key Resistance, Death Cross Signals Bearish Pressure

The XRP price continues to face some bearish pressure after an extended corrective phase that began in mid-August.

Following a failed attempt to sustain above the $2.75 level, the Ripple token price recently rebounded from the lower boundary of a falling wedge pattern near the $2.07–$2.10 support zone.This rebound shows that buyers are still defending key psychological support levels. 

The price of the Ripple token currently trades around $2.45, below both the 50-day Simple Moving Average (SMA) at $2.59 and the 200-day SMA at $2.63, which recently formed a Death Cross. This is a strong bearish technical signal that often precedes continued downside movement.

On the daily chart, the XRP price remains compressed within a falling wedge, a formation that sometimes hints at an upcoming bullish reversal.

The 23.6% retracement level near $2.45, where XRP is currently consolidating, marks the first barrier. A successful breakout above this area could open a path toward the 38.2% Fib level at $2.75, followed by stronger resistance around $2.96 (50%) and $3.17 (61.8%).

Meanwhile, the Relative Strength Index (RSI) currently sits around 49.8, reflecting neutral market sentiment. The indicator suggests that XRP is neither overbought nor oversold, aligning with the idea of a potential consolidation phase before the next major directional move.

For now, XRP’s short-term outlook remains cautious. A close above $2.75 could trigger a short-term bullish reversal targeting $2.96–$3.17, while failure to hold the $2.45–$2.40 support range may send the price back toward $2.07, the next major demand zone.