- XRP price witnesses a steady correction trend resonating within the formation of a falling channel pattern.
- Bitwise submits Amendment 4 for its proposed spot XRP ETF, adding NYSE listing details and a 0.34% management fee.
- Bloomberg’s Eric Balchunas notes these changes are among the final steps before launch.
XRP, the native cryptocurrency of the XRP Ledger, jumped 3.26% on Friday to trade at $2.51. The buying likely came as a relief rally in the broader crypto market after a notable sell-off earlier. However, the XRP price shows potential to flip this short uptick to sustained recovery as market speculation surrounding the asset’s exchange-traded product gains traction. Assessment management company Bitwise has just updated its XRP ETF filing to include exchange (NYSE) and fee figures, signaling progress toward a potential launch.
XRP ETF Race Intensifies with Bitwise’s Latest Filing Update
A day after Canary Funds submitted a revised S-1 filing for its proposed spot XRP exchange-traded fund (ETF), Bitwise has done the same with a significant update to its own filing. In the latest amendment, the company revealed new information, such as the New York Stock Exchange (NYSE) listing and a management fee of 0.34%, which are typically the final touches in preparations before the fund is set to launch.
The revision, known as Amendment 4, was first reported by Bloomberg ETF analyst Eric Balchunas in a recent post on X, where he noted how such inclusions are likely the “final boxes to check” in an ETF filing. These amendments indicate that Bitwise is preparing for a potential approval, as with Canary’s filing, which eliminated the “delaying amendment” provision on Thursday to enable automatic effectiveness following the standard 20-day period.
The competition for the XRP ETF market has gained momentum in a short time, as multiple issuers seek to capitalize on procedural advantages amid evolving regulatory conditions. Both filings were submitted during a period when the U.S. Securities and Exchange Commission (SEC) is mired in administrative delays, and thus, issuers are seeking alternative legal avenues to promote their products.
If all goes according to plan, Bitwise and Canary would have competing XRP-based ETFs go live ahead of schedule, paving the way for more attention to be placed on crypto-linked funds.
The potential launch of these XRP ETFs could act as a major liquidity catalyst, potentially driving renewed investor inflow and updated momentum for the XRP price.
XRP Price Poised for Major Support Test Within Channel Pattern
In the last 4 days, the XRP price showed a notable bearish reversal from $2.7 resistance to the current trading price of $2.5, accounting for a 7% loss. The selling pressure accelerated during the weekdays as Fed Chair Powell’s hawkish tone for December notched down market optimism.
The XRP is currently facing constant headwinds from the daily exponential moving averages 20, 50, 100, and 200, accentuating the bearish sentiment in price. If the selling pressure persists, the coin price could extend its correction another 19% before testing the support trend of a long-coming channel pattern at the $2 mark.
Since mid-July 2025, the XRP price has been actively resonating within the two falling trendlines of the pattern, which act as a dynamic resistance and support for traders. The recent history of this pattern shows that a price retest to the bottom trendline has often bolstered buyers to recoup the bullish momentum for a potential rebound.
Thus, if the bottom trendline holds, the XRP price could prevent a major correction and kick-start a fresh recovery cycle within the pattern.
Also Read: Coinbase to Acquire BVNK in $2B Deal for Stablecoin Payment
