**Canary Funds XRP ETF Set for Potential Launch on November 13**
The first pure spot XRP ETF could be just around the corner, as Canary Capital has filed an updated S-1 registration statement with the SEC for its proposed XRP ETF.
In the latest update, the issuer removed a “delaying amendment,” which means the filing will automatically become effective after 20 days. This countdown ends on November 13, potentially allowing the product to go live after months of anticipation.
**Background**
The XRP ETF was recently listed by the Depository Trust & Clearing Corporation (DTCC). If Nasdaq approves the Form 8-A filing—which makes the product’s shares tradable—the ETF will officially launch. However, the launch date could still change if the SEC issues additional comments.
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**Michael Saylor Reacts to Bitcoin Price Crash with Symbolic Post**
Michael Saylor, CEO of Strategy, addressed the recent Bitcoin (BTC) price crash through a symbolic social media post that has sparked reactions within the crypto community.
The post features a dramatic photo of Saylor seated at a chessboard with carved pieces, accompanied by an hourglass ticking beside him. This imagery suggests a calculated, long-term strategy, with the hourglass highlighting time-sensitive moves related to Bitcoin’s price.
Saylor’s message alludes to an ongoing “battle” to sustain Bitcoin’s bull market amid the price drawdown. It also reflects the broader struggle between Bitcoin and traditional financial systems, including fiat currencies and market makers.
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**Cardano Records Death Cross as Whales Offload 100 Million ADA**
Cardano has entered a death cross amid a worsening sell-off during a volatile Thursday session that saw nearly $1.13 billion in leveraged futures liquidations.
The cryptocurrency has extended its decline for the fourth consecutive day since reaching a weekly high of $0.693. On the hourly chart, the 50-period moving average (MA) has fallen below the 200-period MA, completing a “death cross” that signals increased short-term selling pressure.
Crypto analyst Ali reported that large Cardano holders, or whales, took profits over the past three days, selling approximately 100 million ADA within 72 hours.
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*Stay tuned for more updates on these developing stories in the crypto market.*
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