XRP is down 3% on Saturday as asset manager Purpose Investments submitted a prospectus with Canada securities regulators to launch a Ripple (XRP) exchange-traded fund (ETF).
XRP ETF could debut in Canada as Purpose Investments submitted a prospectus with Canadian regulators, proposing to launch a spot XRP ETF . Purpose Investments aims to be the first firmto launch an XRP ETF while its US counterparts await acknowledgment from the SEC. XRP could find support near $2.62if it breaks the lower boundary line of a descending channel.
The remittance-based token is following a developing descending channel extending from January 15. XRP/USDT 4-hour chart If XRP fails to hold the channel's lower boundary line, it could find support near $2.62. However, if XRP sustains a move above the channel's upper boundary line and holds it as a support, it could rally to test its all-time high resistance at $3.55.
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