XRP surges minutes before ETF launch amid 'extreme market fear'

Core Viewpoint - XRP is experiencing a rally due to the anticipation of the first U.S. spot XRP exchange-traded fund (ETF) launch, despite broader market weakness [1] Group 1: ETF Launch Details - Nasdaq has certified the listing of Canary Capital's XRP ETF (ticker: XRPC), with trading expected to begin as early as Thursday, pending final SEC effectiveness [1][2] - Nasdaq formally notified the SEC of receiving Canary's Form 8-A filing, which triggers "automatic effectiveness" during the government shutdown [2] - If trading commences as anticipated, XRPC will be the sixth single-asset spot crypto ETF in the U.S., joining Bitcoin (BTC), Ether (ETH), Solana (SOL), Litecoin (LTC), and Hedera (HBAR) [3] Group 2: Market Sentiment and Analyst Insights - Analysts caution that the Nasdaq letter is procedural and does not confirm the ETF's effectiveness, indicating it is merely an approval of the listing [4] - The Crypto Fear & Greed Index has dropped to 15, indicating Extreme Fear in the market, suggesting increased trader nervousness amid rising volatility and thinning liquidity [4] Group 3: Whale Activity and Market Dynamics - Before the ETF announcement, large players (whales) were accumulating XRP, as indicated by a rise in whale-sized orders in the futures market [5] - The market dynamic shifted significantly after the ETF news, with retail-sized orders appearing only post-announcement [5][6] - The pattern of whales accumulating first and retail investors following is common in the crypto market and often signals a shift in market conditions [6]