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The Ontario Securities Commission (OSC) has granted Purpose Investments Inc. the approval to launch a spot XRP exchange-traded fund (ETF) on the Toronto Stock Exchange (TSX).

This particular ETF will offer CAD-hedged, CAD non-hedged, and US dollar XRP products from June 18 onwards.

Interestingly enough, Purpose Investments is the same financial entity that launched the world’s first Bitcoin ETF back in 2021.

As investor interest around $XRP continues to grow, we’ll point you towards the best crypto to buy now to benefit from this development.

$XRP Technical Analysis

$XRP has been trading in a tight zone for a few weeks now. The immediate support is around $2.10–$2.05, with resistance at $2.34.

The token tried to break through the resistance on June 16, i.e., when the XRP ETF was approved.

Although the breakout wasn’t successful, the tides could change soon thanks to growing whale interest and XRP product launches.

An XRP bull run could see the token hit $3 in the next few weeks and up to $4 by the end of the year.

The RSI (relative strength index) is also around 46, which is a ripe neutral level, indicating shifting market sentiments, probably towards the buy side.

With XRP gaining momentum, this could be the start of a broader altcoin rally. Here are the best tokens to buy now to ride the wave.

1. Snorter Token ($SNORT) – Best Crypto to Buy Now, Powers a Top Telegram Trading Bot

Snorter Token ($SNORT) is hands down one of the best cryptos to invest in right now. It’s the native cryptocurrency of the highly secure, feature-laden, and easy-to-use Telegram trading bot.

Snorter’s biggest selling point is the automated sniping of new meme coins on presale. Noted that this is nearly impossible to do manually because of crypto whales and their automated tools.

In addition to being super easy to use – just top up your crypto wallet and trade directly from Telegram – Snorter is also incredibly privacy-conscious.

It comes with MEV-resistant systems that will protect you from sandwich attacks. What’s more, there’s also protection against rug pulls and honeypots.

Buying $SNORT will not only give you total access to Snorter Bot, but it’ll also lower the trading fees from 1.15% to just $0.85%, which is the lowest in the industry.

Snorter Token is currently in presale, with over $1M in early investor funding so far. One token is currently available for just $0.0957, and here’s how you can buy it.

2. BTC Bull Token ($BTCBULL) – Best Meme Coin for Bitcoin Maximalists

It wouldn’t be speculation but a simple educated guess to say that Bitcoin will join XRP in the next bull run.

If you want to maximize your returns from a Bitcoin rally, BTC Bull Token ($BTCBULL) is the best altcoin to buy now.

This crypto project works by distributing free $BTC to its token holders (via airdrops) every time Bitcoin reaches a new milestone ($150K & $200K) for the first time.

To be eligible, you’ll need to buy $BTCBULL tokens and store them in Best Wallet. Also, make sure to opt-in to the project’s airdrop events on social media.

If you want to be on the receiving end of $BTCBULL’s potential 1,800% rally, become an early investor now.

The project is currently in presale, where it has raised more than $7.2M at the time of writing.

3. Aura ($AURA) – Hottest Token on the Market Right Now

As you might have guessed, $AURA is based on the internet phenomenon ‘aura,’ also known as digital vibe or clout on social media platforms like X and TikTok.

Token holders get a chance to quantify their ‘aura’ by using the project’s one-of-a-kind meme generator to create +Aura memes.

Despite being a hype-driven token, not one with real utility, $AURA is the best recent example that meme coins don’t have to have strong fundamentals to be profitable investments.

It’s one of the top trending cryptos right now, having climbed up nearly 135% over the past week.

It’s currently trading at $0.1317, and a brief look at its chart suggests that it has the potential to rise higher, as it’s about to break through a descending triangle pattern.

Final Thoughts

The approval of the XRP spot ETF in Canada marks a pivotal moment for the broader crypto industry, signaling growing institutional confidence and mainstream adoption.

We believe that new cryptos like Snorter Token ($SNORT) and BTC Bull Token ($BTCBULL) could be the perfect way to fuel the market’s excitement and bullishness.

However, kindly bear in mind that crypto investments are highly risky. Our articles aren’t financial advice, and you must always do your own research before investing.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

XRP price continued to slide for the second straight day despite getting approval for the first spot ETF listing in Canada.

According to recent reports, asset manager Purpose Investments has received final approval from Canadian regulators to launch the country’s first spot XRP ETF. Trading for the Purpose XRP ETF will begin on Wednesday, June 18, on the Toronto Stock Exchange under the ticker XRPP.

Despite the approval giving Canadian investors an easy and regulated way to access XRP, it didn’t lift sentiment, and the token stayed under pressure. XRP (XRP) price dropped 3.4% in the past 24 hours to $2.17, with its market cap falling to $127 billion.

The decline came as the broader crypto market cap dropped 3.6% over the past day, with Bitcoin (BTC) and other major tokens also sliding amid weak overall sentiment.

This was largely driven by heightened geopolitical tensions in the Middle East and growing uncertainty surrounding the U.S. Federal Reserve’s upcoming interest rate decision. Rising inflation risks have dimmed hopes of imminent rate cuts, prompting a risk-off mood across financial markets.

Despite the bearish short-term pressure, several bullish catalysts are emerging for XRP.

A recent court filing in the SEC v. Ripple case revealed that both parties have agreed to a $50 million settlement. If approved, this settlement could finally resolve the long-standing legal battle that has overshadowed XRP’s regulatory clarity and hindered its broader adoption.

In addition, former CFTC Chair Chris Giancarlo, appointed during the Trump administration, proposed the idea of issuing government bonds for crypto assets such as Bitcoin and XRP. He shared these insights during the XRPL Apex 2025 conference in Singapore, signaling a growing policy shift in favor of regulated crypto finance.

Ripple also continues to push forward on product and regional expansion. The company is preparing for the rollout of its RLUSD stablecoin, a key addition to its ecosystem. Simultaneously, Ripple has been strengthening regulatory footholds in key crypto hubs like Dubai and Singapore, which could enhance XRP’s cross-border utility.

From a technical standpoint, XRP is forming a multi-month bull pennant pattern on the 1-week/USDT chart. This bullish continuation setup typically precedes a breakout, with price targets based on the length of the initial flagpole.

In XRP’s case, a breakout could project a move to $4.61, representing a 114% gain from current levels.

Supporting this thesis, technical analyst Mikybull Crypto drew parallels with XRP’s 2017 chart structure, noting that a similar bull pennant breakout preceded a rally of over 1,300% to all-time highs near $3.40.

Momentum indicators, however, present a mixed picture. On the weekly chart, a golden cross has recently formed, with the 50-day SMA crossing above the 200-day SMA, typically a bullish signal suggesting trend continuation.

In contrast, the daily chart has turned more bearish. The 200-day SMA has crossed above the 50-day SMA, forming a death cross, which is viewed as a bearish reversal indicator in technical analysis. In addition, both the MACD and RSI are trending lower, reinforcing short-term downside risks.

Investor uncertainty was further amplified after the SEC delayed its decision on Franklin Templeton’s proposed spot XRP ETF, extending the review period into late July. The delay, coupled with market-wide caution, has likely contributed to XRP’s underperformance.

If XRP loses the key psychological support at $2.00, further downside toward $1.62, its April 2025 low, appears likely before any sustained rebound. Conversely, holding above this level and breaking above the pennant’s resistance could reaffirm the bullish scenario and pave the way toward a retest of cycle highs.

Ripple Labs and the US Securities and Exchange Commission (SEC) have jointly asked the Second Circuit Court to extend the suspension of the agency’s appeal.

According to a June 16 court filing, both parties are pushing to delay the appeal to avoid further litigation following their previous settlement.

This request follows an earlier effort to amend the final judgment in the case, which Judge Analisa Torres rejected. The court ruled the request lacked the “exceptional circumstances” needed to alter a final ruling.

In response, Ripple and the SEC submitted a revised motion to suspend the ongoing appeal. Notably, the SEC had filed the original appeal in October 2024, under then-Chair Gary Gensler, to challenge a court ruling that largely favored Ripple.

However, both sides reached a preliminary agreement in April 2025 and asked the court to suspend the appeal temporarily.

Although the court has yet to grant the extension, the SEC has pledged to submit a progress update by August.

Canada gets spot XRP ETF

While legal proceedings continue in the US, Canada is making history with the continent’s first approved spot XRP exchange-traded fund (ETF).

According to a press statement, Purpose Investments, a Toronto-based asset manager, will list the Purpose XRP ETF on June 18 under the XRPP ticker. Purpose was also the first issuer of a spot Bitcoin ETF in Canada.

The XRP-focused product will trade on the Toronto Stock Exchange and provide investors with regulated access to the digital asset.

According to the statement:

“The ETF will be available in CAD-hedged (ticker XRPP), CAD non-hedged (ticker XRPP.B), and US dollar (ticker XRPP.U) units, and will be eligible for holding in registered accounts such as TFSAs and RRSPs.”

This milestone comes as several US-based firms like Grayscale await the SEC’s decisions on their XRP ETF proposals.

Market observers believe that the chances of the SEC approving a spot XRP ETF are high this year. This is evidenced by crypto bettors on the decentralized marketplace Polymarket, who believe there is an 88% chance of approval.

These developments did not immediately impact the XRP price, up by a modest 1.4% to $2.22 as of press time, according to CryptoSlate’s data.

Mentioned in this article

While Ethereum, Solana, and XRP continue to benefit from these positive developments, ongoing geopolitical uncertainty and weakening global risk appetite continue to suppress prices. As a result, narrow-range price movements seen across the broader market are also reflected in these three altcoins.

Ethereum approached the $2,800 range last week, attempting to break out of the $2,430–$2,730 consolidation zone. However, with global market dynamics shifting rapidly, investor risk appetite remains low in the current environment of uncertainty. This is one of the key factors limiting upward momentum in the Ethereum market.

As a result, ETH saw profit-taking around $2,800 and dropped as low as $2,500. While the cryptocurrency has remained above $2,500 since the weekend, recent price action suggests that ETH’s support zone has shifted higher. However, since upside momentum has remained weak over the past month, a weekly close above $2,730 has become important for confirming a stronger uptrend. Although daily gains are being met with selling pressure, a sustained close above $2,730 could establish this level as new support and potentially mark the beginning of an upward trend.

In the current setup, ETH’s closest resistance is around $2,580. If daily closes hold above this level, we could see a move toward the major resistance zone around $2,700. A bullish signal from the Stochastic RSI is also expected above $2,580, as seen last week. If Ethereum breaks out with a weekly close above the consolidation zone, the price may quickly target the $3,000–$3,400 range.

While the general upward trend in Ethereum remains intact despite its current flatness, levels down to $2,430 continue to form a critical support area. A pullback below this level could trigger a broader decline toward $2,000.

Ripple and the SEC have entered a new phase in their years-long legal battle. A joint request by both parties to suspend the appeals process suggests that the case could progress rapidly and leaves the door open to a potential settlement.

This development can be viewed as a positive sign for resolving legal uncertainty—not only for Ripple but also for U.S.-based crypto projects more broadly. A conclusion to the XRP case could significantly impact the trajectory of crypto regulations in the U.S., keeping expectations high across the altcoin market, especially for XRP.

Resolving XRP’s legal hurdles could also drive an increase in institutional demand. In this context, XRP-based ETF efforts have recently gained momentum. Most notably, Canadian firm Purpose Investments announced it will list an XRP spot ETF on the Toronto Stock Exchange on June 18, offering both Canadian and U.S. dollar-based options—an important step for broader institutional acceptance.

As ETF developments continue to support XRP’s price, the token tested the $2.3 resistance level again yesterday, gaining 7% in value.

XRP, which pushed toward $2.65 last month, dropped to an average of $2.1 following a correction, forming an important support line at that level. Throughout June, price compression between $2.1–$2.3 has been observed, and this pattern could fuel new volatility in the coming days. Daily closes above $2.3 could create momentum toward the $2.5–$2.7 range. If demand continues to rise, the $3–$3.4 range may come into play.

On the downside, the $2–$2.1 range is the main support area for XRP. A move below this range could extend the downtrend that began at $2.65 in May and briefly paused in June. In a negative scenario, XRP could fall back toward the $1.65–$1.9 range.

After bouncing from the $100 zone in April, Solana staged a rapid recovery—rallying over 80% to reach $180. However, the cryptocurrency failed to break the $180 mark last month and declined to $142 during the correction.

Recent price action has made three levels critical for Solana. On the downside, $142 remains a key support. To the upside, $183 marks the upper limit of the consolidation band and serves as main resistance. The mid-point of this channel is around $165, which is now acting as intermediate resistance. SOL, which found support at $142 earlier this week, is currently testing $155—where short-term EMA values lie. Daily closes above this level could bring $165 into play, and if broken, $183 may be retested. A breakout beyond this range could open the path to $200, $230, and $260 as short- and medium-term targets.

If the $142 support fails, a drop toward $130 could follow. Should that level also break, Solana could retreat all the way back to the $100 region.

Among recent developments for Solana, ETF filings are particularly noteworthy. The cryptocurrency has reentered the radar of institutional investors thanks to spot ETF applications submitted to the SEC by Fidelity and CoinShares. Fidelity’s ETF proposal includes staking—a mechanism that would directly benefit Solana’s network economy.

CoinShares’ application is more conservative, but the firm’s successful Bitcoin and Ethereum products suggest that Solana could follow a similar path. Bloomberg analysts estimate a 90% probability of ETF approval, raising short-term expectations for institutional capital inflows. However, the SEC has the final say, and the market impact of these applications remains limited for now.

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