What happened?
Canary Capital updated its S‑1 for a spot‑XRP ETF on October 31, removing a delaying amendment and putting an ETF verdict on November 13. That change opens the door for a potential ETF launch in November if Nasdaq grants 8‑A approval. Traders immediately started bracing for a big price move as XRP shows technical breakouts and clear support/resistance between about $2.20 and $3.00.
Who does this affect?
Retail XRP holders and short‑term traders are most exposed because ETF news and the technical setup can drive rapid price swings and liquidations. Institutional investors, exchanges, and custodians would be affected if a spot ETF brings fresh inflows, new listings, or custody flows. Leveraged and derivatives traders face heightened risk around the verdict date since volatility could spike quickly in either direction.
Why does this matter?
An approved spot‑XRP ETF would likely boost demand and liquidity, increasing the odds of price upside toward the $3 psychological level and renewed market confidence. Conversely, a delay or rejection could trigger a sharp drop back toward $2.30–$2.20, amplifying volatility across altcoins and derivatives markets. So the November 13 decision could shift capital flows, change market structure, and force many traders and funds to re‑price risk.