XRP Outperforms Bitcoin as ETF Filings Enter 20-Day Window, Setting up Breakout Trade to $2.80

Core Insights - XRP experienced a 3.6% increase, reaching $2.31, surpassing the key resistance level of $2.28, driven by ETF momentum and network growth, which renewed institutional interest [1] - Trading volume surged by 86% above the 24-hour average during this breakout, marking the strongest close for XRP in over a week, outperforming Bitcoin and Ethereum amid a generally subdued market [1] ETF Developments - Canary Capital Group submitted an amended prospectus for its proposed Canary XRP ETF, moving closer to potential SEC approval under Section 8(a) [1] - The ETF is set to trade on Nasdaq under the ticker XRPC and will hold XRP in custody with Gemini Trust Company and BitGo Trust Company, using the CoinDesk XRP CCIXber 60m New York Rate as its pricing benchmark [1] - This filing follows a similar move by 21Shares, which initiated an automatic-effectiveness countdown for its own spot XRP ETF [1] Institutional Focus - Bloomberg's Eric Balchunas indicated that the dual filings could prompt the SEC's first decision on XRP-based ETFs, reflecting precedents established by previously approved Bitcoin and Ether products [1] - The filings coincide with a week of increasing institutional interest in Ripple, which announced new partnerships with Mastercard and WebBank for RLUSD settlement [1]