XRP price compresses into bullish breakout zone ahead of Nov. 20 Bitwise ETF launch

XRP price is tightening inside a breakout pattern as traders watch for the impact of today’s Bitwise XRP ETF launch.

Summary

• XRP trades near $2.13 as price compresses inside a tightening triangle pattern.
• Bitwise’s XRP ETF set to launch on the NYSE with fee waivers and rising institutional interest.
• Technical signals show mixed momentum, but a breakout becomes more likely as volatility builds.

XRP traded at $2.13 at press time, slipping 1.1% over the past 24 hours as the crypto market saw mixed sentiment. The asset remains under pressure, down 14% in the last week and 12% over the last 30 days, while still sitting 41% below its July 18 all-time high of $3.65.

Even with the weakness in price, activity is rising. XRP (XRP) recorded $5.57 billion in 24-hour spot volume, a 20% increase that suggests traders are returning to the market ahead of a key catalyst.

CoinGlass data shows derivatives volume up 26% to $8.32 billion, while open interest dipped 1.26% to $3.71 billion. Higher derivatives volume with declining open interest often shows traders closing old positions and preparing for short-term volatility.

Bitwise XRP ETF prepares to go live

The long-awaited Bitwise XRP ETF will officially launch today, Nov. 20, on the New York Stock Exchange under the ticker XRP. The spot ETF provides direct exposure to XRP without requiring investors to hold the token, opening the door for traditional institutions, wealth managers, and pension funds that were previously limited by regulatory hurdles.

Bitwise first filed earlier this year, with an expected October debut pushed back by the U.S. government shutdown. The issuer updated its S-1 on Oct. 31, triggering the Securities and Exchange Commission’s 20-day automatic effectiveness window.

The fund carries a 0.34% annual fee, but it is waived for the first month on the first $500 million in assets, a move designed to attract early inflows. Storage is handled by Coinbase Custody, which offers institutional-grade security.

The launch comes after strong demand for similar products. Canary Capital’s XRPC ETF debuted with $58 million in trading volume on its first day. Analysts expect strong demand for the Bitwise fund, creating steady buy pressure on XRP. 

Adding to the ETF buzz, Ripple engineers are reportedly exploring native XRP staking for the XRPL, potentially expanding the network’s decentralized finance footprint. 

5 to 10% APY is already offered by third-party services like XRP Tundra. Native staking might go live in Q1 2026 alongside impending enterprise upgrades.

XRP price technical analyis

XRP is compressing within a descending-triangle-to-symmetrical-triangle hybrid, defined by lower highs and a steadily rising support line. When price breaks away from the narrowing range, this kind of setup often results in a strong move, especially when a major catalyst lands at the same time.

Momentum signals are mixed. Stochastic and the relative strength index at 38 are in neutral territory, indicating that while selling pressure is lessening, buyers have not yet taken control. The Williams and commodity channel index indicators suggest early oversold conditions.

However, the MACD, momentum, and the full suite of short-to-long-term moving averages are bearish. Every major estimated moving average and simple moving average, from the 10-day through the 200-day, indicates selling pressure.

A clean move above the descending trendline could lift the price toward $2.30 to $2.50, then possibly $2.75 if volume picks up. Failure to hold rising support near $2.05–$2.08 may open a move toward $1.92, where deeper liquidity sits.