XRP Price Stays Rangebound as Canary XRP ETF Launch Enters 48-Hour Countdown

• XRP trades near $2.40, holding a $2.35 to $2.60 range, while Canary files Form 8-A for an XRP ETF.
• Bloomberg’s Eric Balchunas says the Form 8-A stage often means the ETF can start trading within 48 hours
• Derivatives show lighter longs and lower volume, so traders wait for an actual ETF go-live before bidding XRP higher.

XRP is holding near $2.40, staying inside a tight $2.35 to $2.60 event range even as Canary Capital pushes its XRP ETF toward launch. To note, XRP price has been staying muted despite growing speculation that Canary Capital’s XRP Exchange-Traded Fund (ETF) could launch within the next 48 hours.

Canary Filing Moves XRP ETF Closer To Trading

Bloomberg’s senior ETF analyst Eric Balchunas reported on X that fund manager Canary had filed 8A for XRP ETF, hinting at a potential launch within the next 48 hours. 

The filing of Form 8-A typically signals that regulatory and administrative processes for an ETF are nearing completion. However, XRP’s muted response suggests traders remain cautious until an official confirmation or trading debut occurs.

Data from XRP derivatives markets reinforces that sentiment as trading volume declined 28.29% to $7.08 billion while Open interest also slipped 2.02% to $4.07 billion,Long/short ratio stood at 0.9493, indicating higher incidence of short positions deployed during the ongoing trading session. 

Despite the buzz surrounding a potential ETF launch, investors appear to be rotating capital toward other large-cap assets, while awaiting official confirmation on Canary’s XRP ETF launch date. 

XRP Price Outlook: $2.35 Support Before ETF Goes Live

XRP trades near $2.427, hovering between key technical thresholds as market volatility tightens ahead of potential ETF news. On the 12-hour chart, XRP’s Bollinger Bands show the upper band at $2.579, middle band at $2.3516, and lower band at $2.1242, indicating a neutral-to-bullish volatility range.

The current price action reflects mild correction pressure after last week’s rally toward $2.60. Candles remain above the middle Bollinger band, showing that $2.35 serves as short-term support. A sustained close below this level could expose XRP to the lower band near $2.12, but bulls appear to be defending aggressively.

The MACD confirms easing bearish momentum, with the histogram printing lighter red bars. The MACD and signal lines are converging (–0.0059 vs –0.0341), suggesting a potential bullish crossover if momentum improves in the next session.

However, volume delta is negative at –3.2 million, signaling a short-term imbalance favoring sellers. A return to positive delta could trigger a bounce back toward $2.58, aligning with upper-band resistance.

If ETF confirmation arrives before Thursday, XRP price could test the $2.60 to $2.65 zone, which would complete a 10% rebound from current levels. Conversely, a delay or rejection could drag prices toward $2.20.