Key takeaways
Why are all issuers updating their XRP ETFs?
To allow them to launch despite the ongoing government shutdown.
How is the market positioned for the launch?
Traders were extremely cautious amid the extended and broader market decline.
Amid the market chaos, there is good news, at least for the market ripple [XRP] community.
According to Bloomberg ETF analyst James Seyphart, Franklin Templeton, along with Canary Capital and Bitwise, has introduced updated spot XRP ETFs that will allow the products to begin trading despite the ongoing government shutdown.
Source: X
Seyfart He added The changes will enable the products to start trading this month. If so, they will join other altcoin ETFs, e.g Solana [SOL], Litecoin [LTC]and Hedera Hashgraph [HBAR].
For perspective, the recently approved Spot SOL ETFs also launched after updated filings allowed them to launch without the green light from the SEC.
Evaluation of the XRP market situation
However, launching an XRP ETF in the US would set a new precedent, especially after Ripple Labs endured a five-year SEC lawsuit. Nate Geraci, co-founder of ETF Prime, Repeat Same feeling added
“The launch of spot XRP ETFs represents the final nail in the coffin of previous anti-crypto regulatory bodies. We have come a long way.”
However, on the market front, the price of XRP has been largely influenced by broader market sentiment rather than the update.
It widened its correction range to $2.0 before returning to $2.2. Overall, it fell about 12% in November before a potential death cross that could pull it lower if sentiment does not improve.
Source: XRP/USDT, TradingView
However, Selling pressure of whales has completely decreased, as shown by the Whale Flow 30DMA.
Over the past two months, major players have offloaded more than 45 million XRP, coinciding with the price falling from $3.5 to $2.
If whales start accumulating, this will likely boost XRP bulls, similar to the trend observed during the recovery in Q2 2025.
Source: Cryptoquant
However, options Merchants They were actively buying short-term puts (hedging), which underscores near-term caution and uncertainty.
This is illustrated by the negative 25 risk reversal (25RR), which tracks market sentiment and positioning.
Source: Amberdata
The upcoming launch of ETFs has been overshadowed by the current weak market sentiment. Although XRP whales have slowed their unloading, positioning remains cautious in the near term.
