XRP ETF Countdown Begins as 21Shares Triggers SEC Review

XRP is back in focus as 21Shares moves closer to launching a spot XRP exchange-traded fund (ETF).

The company’s latest Form S-1 Amendment No. 3, confirmed on November 8, 2025, by Bloomberg analyst Eric Balchunas, triggered a 20-day review window under Section 8(a) of the U.S. Securities Act. If the SEC raises no objections, the ETF could automatically become effective – a milestone that could open the door for large-scale institutional participation in XRP.

The filing comes as institutional appetite for regulated crypto products grows following recent Bitcoin and Ethereum ETF approvals. Analysts view this as a potential turning point for XRP after years of legal uncertainty surrounding Ripple. A spot ETF would give investors direct exposure to the asset without requiring custody, likely boosting liquidity and market depth.

Balchunas noted that the “20-day clock is now in effect,” suggesting 21Shares anticipates limited resistance. If approved, the fund would place XRP among a small group of regulated crypto assets, alongside Bitcoin, Ethereum, and possibly Dogecoin, which recently saw its own ETF filing.

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Technical sentiment around XRP is also improving. Popular analyst Dark Defender recently identified a bullish setup based on Elliott Wave theory, suggesting the token may have entered its next expansion phase. He pointed to $2.22 as key support, with potential targets between $5.85 and $10, depending on momentum.

The combination of ETF progress and strengthening technicals has revived optimism in the XRP community. If the ETF goes live, it could attract fresh institutional capital, boost liquidity, and reinforce XRP’s position as a leading digital asset bridging traditional finance and blockchain payments.