21Shares XRP ETF Filing Sparks Frenzy — Is a ‘God Candle’ Coming Next?
21Shares filed an amendment for its XRP ETF, starting a 20-day SEC review period that could lead to automatic approval by late November.Summary
The price of Ripple (XRP) surged 5% after 21Shares submitted Amendment No. 3 to Form S-1 for its proposed spot XRP ETF. This filing initiates a 20-day review period by the SEC, which, if unchallenged, could lead to the ETF automatically clearing for trading around November 27. Analysts like Eric Balchunas confirmed the start of this SEC clock, while community members predict a massive upward price movement, termed a 'god candle,' similar to the surge following the July 2023 partial ruling in favor of Ripple. This development aligns with recent preparatory filings by other institutions like Franklin Templeton and Grayscale Investments, who have also made adjustments suggesting readiness for a potential November rollout of spot XRP ETFs, which would significantly increase institutional exposure to the token.
(Source：BeInCrypto)