Key Insights:
- XRP ETF approval signals institutional demand and regulatory momentum building.
- Bullish flag pattern hints at XRP price breakout toward higher targets.
- Toronto Stock Exchange lists first North American spot XRP ETF.
Asset management company Purpose Investments has received regulatory licensing to list North America first-ever spot XRP exchange-traded product (ETP) the exchange-traded fund (ETF).
As stated in the final prospectus, published on Monday, the fund will trade on the Toronto Stock Exchange (TSX) with the ticker XRP and will start trading on June 18 under the XRP (Unlimited) ticker.
The certification is happening as more confidence has been gained over the XRP legal status after the U.S. Securities and Exchange Commission (SEC) hinted that it does not view XRP as securities.
Although the launching of the ETF is Canada-based, the impact is continental as it is the first in North America to have an official and formal recognition of XRP as a viable underlying asset in spot ETFs in Canada.
Technical Setup Signals Upside Momentum Amid XRP ETF News
At the same time as the ETF announcement, the price structure of XRP implies an opportunity to leave a long period of consolidation.
As per the daily chart XRP has been in a descending parallel channel. This is a classical bullish flag formation, which has been there since the beginning of 2025.
This is after a sharp bullish run between October 2024 and December 2024 after the asset had generated a near vertical flagpole making the first leg of the pattern.
The upper line of resistance and the lower line of support have been intact to the indicator and the price has been moving between the two ever since January.
By the middle of June, XRP seems to be undergoing a test of the upper range of the flag and some breakout has already been started.
A close above that trendline would confirm the bullish flag, a pretest continuation pattern that has proven to be powerful in the past.
The Fibonacci of the flagpole is used to arrive at the upside target of this move. The full extension would point to Fibonacci level of 1.618 level at $11.0978, and the 100 percent measured move would be the initiation of price targets at about $7.2683 and $13.3750 as calculated based on the chart.
The following figures are not sureties but they are possible technical milestones depending on conventional historical chart formations.
Spot ETFs Removing Friction for Institutional Entry
The XRP ETF is available to Purpose Investments, which provides direct exposure to XRP in a traditional brokerage account that institutions and retail investors alike can own. This is so that they do not need to deal with the management of a personal key or the challenges of crypto-native infrastructure.
It is a structure that is set up to ensure that it meets the superiority level of regulations and to eliminate the traditional movements of funds.
The advancement of the ETF is only months after the U.S. authorized various Ethereum and Bitcoin spot ETFs yet XRP has not gotten any authorization in the U.S. yet.
Canada has again become the first country to regulate the digital asset with the listing of the XRP ETF on the TSX, just like it became the first country to list the first Bitcoin and Ethereum ETFs.
The last receipt of the prospectus opens the doors to the commencement of trading on June 18, which might create a large inflow of volumes to XRP markets.
Access at institutional levels can help curb volatility in the long term and enhance liquidity.
The legal status of XRP is coming to endpoint with the development of the approval of the ETF. After last July, when Ripple Labs, in its case with the SEC, won partially, with the court deciding that the programmatic sale of XRP did not amount to a securities offering, the push has turned against the SEC.