XRP News Today: XRP Price Crashes Today Amid Strong ETF Momentum and Weekly Gains

November will be a crucial month for XRP as the first U.S. spot XRP ETF, Canary XRP ETF, is preparing to launch on Thursday, marking a significant moment in XRP’s history. Despite the renewed market interest, the ETF launch, and weekly gains, XRP crashed today and reportedly fell from $2.57 to $2.39, a 7% drop compared to yesterday’s high.

XRP is currently trading at $2.39, and the decline could be due to profit-taking after the initial excitement over the ETF or XRP’s inability to stay steady above the $2.50 resistance level.

Source: TradingView

Amid today’s 5% drop, XRP remains up around 7% over the past week, indicating its prior strong market momentum. According to XRP’s latest technical analysis, the native crypto of XRP Ledger has broken below $2.41 Fibonacci support, indicating weak momentum. Experts and traders are eyeing $2.30 as key technical levels to watch, and $2.50 for short-term resistance. 

The recent buzz regarding the XRP spot ETF launch and the news of the Canary XRP ETF awaited launch on Thursday have not sustained XRP’s market performance lately. The experts opine that the profit-taking and mounting selling pressure are some major factors that are affecting XRP’s bullish momentum. They claim that after the initial excitement of the Canary XRP ETF debut on Nasdaq, traders quickly took profit from the months-long rally, which has caused short-term pressure in the market. XRP’s weekly gain of over 7% reflects a strong prior momentum rather than new buying strength. Its trading volume has also dropped, signaling a heavy repositioning and short-term caution instead of confident accumulation. 

The soon-to-be-launched Canary Capital XRP ETF will be a major catalyst for XRP’s price and market dynamics. According to market experts and analysts, the first U.S. spot XRP ETF, Canary XRP ETF, could be a major institutional gateway that paves the path for significant new inflows and increased adoption. Jake Claver, CEO of Digital Ascension Group, predicted that upcoming XRP ETFs could propel XRP’s price into the $20–$50 range. CryptoSensei, a prominent analyst, reported. 

🚨 Jake Claver, CEO of Digital Ascension Group, predicts that upcoming #XRP ETFs could propel XRP’s price into the $20–$50 range! pic.twitter.com/zi2AoI6rfV

— CryptoSensei (@Crypt0Senseii) November 11, 2025

Canary Capital ETF: The First XRP ETF Nears US Launch on November 14

The much-awaited XRP Spot ETF from Canary Capital nears its U.S. launch, and it will launch on November 14, 2025. The latest information suggests that the Tennessee-based crypto investment firm has filed the final paperwork for its spot XRP ETF launch, and the trading could begin as soon as Thursday. Canary filed 8A for the XRP ETF last night, which pointed to a launch tomorrow or Thursday. Thursday was the day they thought it would be on track for, but when they did the 8A for HBAR, they launched the next day. It was not a done deal, but all boxes were being checked. He urged everyone to stay tuned, as reported by Bloomberg analyst Eric Balchunas on Tuesday.

Canary filed 8A for XRP ETF last night, which points to launch tomorrow or Thursday (today is holiday). Thursday was the day we thought they'd be on track for but when they did the 8A for HBAR they launched the next day. Not done deal but all boxes being checked. Stay tuned.. pic.twitter.com/gVt9c3psmu

— Eric Balchunas (@EricBalchunas) November 11, 2025

Crypto journalist Eleanor Terrett also reported that Canary Capital had filed its Form 8-A, describing it as the final step before the ETF goes effective at 5:30 PM ET on Wednesday, pending Nasdaq’s certification.

🚨NEW: @CanaryFunds has filed its Form 8-A. This is the final step before it goes effective at 5:30 PM ET Wednesday once the Nasdaq certifies the listing. When that happens, the last hurdle is cleared and the first $XRP spot ETF will be set to launch Thursday at market open. pic.twitter.com/mXvkrrXbiJ

— Eleanor Terrett (@EleanorTerrett) November 11, 2025

She noted that once the listing is certified, the last hurdle would be cleared, paving the way for the launch of the first U.S. spot XRP ETF at market open on Thursday.

The traders and market experts are keenly waiting for the ETF launch and believe that it would be an effective catalyst for XRP, and it is likely to attract substantial institutional inflows. According to them, the launch will also be a turning point that escalates XRP’s market profile, liquidity, and regulatory acceptance. In summary, the upcoming spot ETF launch from the crypto firm Canary Capital will reshape the institutional activities of XRP and probably trigger a renewed price rally that takes XRP to new heights.

Also Read: XRP Price Prediction 2025-2030: Short-Term and Long-Term Predictions