The XRP market just hit a historic milestone as the first U.S. spot XRP ETF, Canary Capital's XRPC, officially debuts on Nasdaq, sending bullish shockwaves for the XRP price and other assets in the market. Related Reading: Ethereum Ready To Explode To $12,000 By January, Says Tom Lee The launch gives traditional investors direct exposure to XRP through regulated brokerage accounts, and analysts say this could be the spark that propels prices sharply higher in the coming weeks. XRP's price moving sideways on the daily chart. Source: XRPUSD on Tradingview First Spot XRP ETF on Nasdaq Unlocks New Demand Nasdaq has certified the Canary Capital XRP ETF for trading under the ticker XRPC, making it the first fully spot-based XRP ETF in the U.S. The fund holds XRP directly and tracks the XRP-USD CCIXber Reference Rate Index, offering a simple, regulated way for institutions and retail investors to gain exposure without managing wallets or private keys. The ETF's approval comes after the fund completed its Form 8-A filing with the SEC, clearing key regulatory hurdles. Other heavyweights, Franklin Templeton, Bitwise, CoinShares, and 21Shares, also have XRP ETF applications in the pipeline, signaling a second wave of products that could further deepen liquidity and demand. On-chain data already shows shifting behavior ahead of the launch. Exchange inflows are down, suggesting holders are accumulating rather than selling, even as XRP trades around the $2.39-$2.50 zone and consolidates above support near $2.20-$2.40. Analysts See 'Face-Melting' XRP Price Rally as Technicals Coil Popular crypto analyst Egrag Crypto believes XRP is entering the final stages of a major consolidation that could lead to an explosive move within 4-6 weeks. Drawing on historical rallies in 2017 and 2021, he notes that XRP is once again forming a large symmetrical triangle, typically a "compression before expansion" structure. Using Fibonacci projections, Egrag highlights potential long-term targets between $10 and $37, while acknowledging that short-term market sentiment remains cautious. He argues that impatience and emotional selling often precede the biggest upside moves, and that today's sideways action is more "preparation" than weakness. BlackRock Narrative and Macro Tailwinds Add Fuel Institutional narratives are also lining up behind XRP. At Swell 2025, BlackRock's Maxwell Stein described the XRP Ledger as a scalable rail for trillions of dollars in tokenized assets and cross-border payments, reinforcing XRP's status as a utility-driven asset rather than a purely speculative token. Related Reading: Bitcoin Death Cross Is Coming: Don't Be Fooled By The Name With the Fed's December rate decision approaching and risk appetite poised to shift, XRP now sits at the intersection of a powerful trio. Fresh ETF inflows, tightening technical patterns, and growing institutional validation. If these forces align, the XRPC launch may be remembered as the moment XRP's next major rally truly began. Cover image from ChatGPT, XRPUSD chart from Tradingview