21Shares XRP ETF Filing Sparks Frenzy — Is a ‘God Candle’ Coming Next?
The Ripple worth surged 5% prior to now hour to $2.32 after 21Shares filed a key modification for its proposed spot XRP ETF (exchange-traded fund).
The transfer triggers a 20-day SEC assessment interval that might routinely clear the fund for buying and selling by late November.
XRP Jumps 5% as SEC Clock Starts on 21Shares ETF
The XRP community clearly obtained the information with euphoria, seen with a surge in shopping for exercise, which catapulted the Ripple worth almost 5% inside the hour.
The submitting, formally referred to as an Amendment No. 3 to Form S-1, was submitted underneath Section 8(a) of the Securities Act of 1933.
It units the clock for a potential automated approval if the US SEC (Securities and Exchange Commission) doesn’t intervene inside the window. ETF analyst Eric Balchunas confirmed the transfer on X (Twitter).
If the SEC stays silent, the ETF might go stay round November 27, as highlighted by market knowledgeable, Scott Melker.
“It might routinely go stay round November 27 if the SEC doesn’t act!” Melker noted.
Likewise, pro-XRP group member Diana described the replace as “a countdown to SEC assessment,” predicting a massive “god candle” inside a month.
In technical analysis, a god candle refers to a huge, sudden inexperienced candlestick on a worth chart that represents an explosive upward transfer in a very quick interval.
One such occasion the place the XRP worth recorded a good candle was in July 2023, when Judge Analisa Torres delivered a partial ruling in favor of the Ripple community.
Then, naysayers missed out on beneficial properties of as much as 70% because the XRP worth skyrocketed. Therefore, Diana’s god candle prediction displays the possible euphoria.
Institutional Filings Align Around November
The 21Shares growth comes simply days after Franklin Templeton and Grayscale Investments made parallel adjustments to their very own XRP ETF filings. As BeInCrypto reported, the strikes signaled rising institutional coordination forward of what might be a historic month for the approval of the Ripple-affiliated token.
In explicit, Franklin Templeton eliminated regulatory language that might delay approval from its S-1 registration assertion, eliminating the identical 8(a) clause that when required specific SEC clearance earlier than launch.
This change, typically used to fast-track ETF effectiveness, has been interpreted by analysts as a signal of readiness for a November rollout.
Meanwhile, Grayscale filed its second modification for its proposed XRP Trust conversion, designating key executives and authorized counsel. This is one other preparatory step sometimes seen forward of launch timelines.
Adding to the momentum, Canary Capital is now targeting a November 13 debut for its personal XRP ETF, pending closing approval from Nasdaq.
If a number of XRP ETFs go stay this month, it will mark the primary time the token joins Bitcoin and Ethereum within the spot ETF market. The occasion might reshape institutional publicity and liquidity flows for XRP.
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