XRP Eyes $10 Target as 21Shares Files for Spot ETF Approval

• XRP gains strong momentum as 21Shares files for a spot ETF, with approval possible within 20 days.
• Bloomberg’s Eric Balchunas suggests the filing indicates little SEC resistance, boosting institutional confidence in XRP’s outlook.
• Analyst Dark Defender projects XRP’s 5th wave rally, setting targets between $5.85 and $10 with strong market support.

XRP is gaining strong momentum following the 21Shares announcement of a spot XRP exchange-traded fund, marking the start of a 20-day period that could see it approved under Section 8(a) of the US Securities Act.

The news, as confirmed on November 8, 2025, by Eric Balchunas, a Bloomberg ETF analyst, has brought optimism to the crypto markets. The news suggested an increase in institutional investment in XRP, as the markets were looking forward to a wave of positivity surrounding the cryptocurrency.

ETF Filing Signals Growing Confidence in XRP

The latest form of the Form S-1 Amendment No. 3 from 21Shares pertains to plans for the 21Shares XRP ETF, a newly proposed product, offering investors access to one of the most traded cryptocurrencies on a regulated ETF.

Since the utilization of Section 8(a) filings typically occurs once issuers are launched, it has a strong indication of 21Shares having little resistance from the SEC, especially since the acceptance of Bitcoin and Ethereum spot ETFs.

Balchunas noted, “The 20-day clock is in play, which means the Exchange-Traded Fund can begin trading as long as it hears no opposition from the SEC.” This has been recognized as a point of significance for XRP, as XRP has been faced with uncertainty and a dispute between Ripple and the SEC.

XRP Enters 5th Wave Rally

Meanwhile, well-known crypto analyst Dark Defender has reiterated a positive long-term forecast on XRP. He said, “This token has completed the ‘Monthly 3rd Wave’ and entered a ‘5th Wave expansion phase,’” a pattern identified as a result of Elliott Waves, typically observed in larger rallies.

Source: X

Based on his analysis, the support level is at $2.22, while the targets range from $5.85 to $10. Speaking about a possible turning point, he said, “The month of November might be a turning point as more investors revisit charts and turn positive on DOGE after the 21Shares news.”

Also Read | Solana Price Analysis: SOL Eyes $185 Rebound if $150 Support Holds Strong

XRP Eyes Breakout After ETF Momentum

The simultaneous growth of the world of ETFs and the optimism surrounding tech has brought back interest in the XRP community. The proposed 21Shares XRP ETF, pending approval, would enhance institutional investors’ accessibility, putting it on an equal level as approved digital currencies such as Bitcoin, Ethereum, or potentially Dogecoin following Bitwise’s DOGE ETF.

These trends could start a cycle of renewed investment interest, making it more liquid, thereby solidifying XRP’s position within global payments.

The market sentiment and the regulatory environment are finally in line, and XRP could be on the cusp of one of the most interesting years. If the ETF starts without any hurdles, based on the current situation, a sudden change in the value of XRP could be expected by the end of 2025.

Also Read | Altcoin Wipeout: 72 of Top 100 Cryptos Down Over 50% Despite XRP and BTC Resilience