Grayscale Files Amendment No. 2 for XRP Trust ETF as Regulated Demand Returns

Grayscale Investments has renewed its push to bring XRP into the regulated investment space by submitting Amendment No. 2 to its Form S-1 for an XRP Trust ETF with the U.S. Securities and Exchange Commission (SEC) on November 3. This updated filing names Grayscale Investments Sponsors, LLC as the sponsor and Davis Polk & Wardwell LLP as counsel, signaling a serious commitment to align XRP with the same regulated framework already used for Bitcoin and Ethereum.

If approved by the SEC, U.S. investors would gain the ability to access XRP exposure through trusted market structures. Such regulatory endorsement typically enhances market depth and improves two-way liquidity, which can contribute to a more robust trading environment.

XRP Ecosystem Developments Boost Institutional Interest

This filing arrives at a time when the XRP ecosystem is gaining momentum by developing real-world use cases. Ripple’s Swell conference in New York, scheduled for November 12 to 14, is anticipated to showcase key announcements related to tokenization, treasury solutions, and regional settlement initiatives. Grayscale’s timing strategically keeps XRP in the institutional spotlight as these significant updates emerge.

Moreover, corporate projects such as VivoPower’s $5 million XRP-linked initiative in South Korea demonstrate growing enterprise experimentation with the XRP Ledger (XRPL) beyond trading, exploring its potential for payments and asset management. These developments reinforce the narrative of XRP as critical infrastructure, further attracting ETF issuers and institutional participants.

Technical Perspective: Liquidity Zones and Symmetrical Patterns

From a technical standpoint, market analysts monitoring XRP’s intraday price action highlight that liquidity remains a central theme. Recent analysis from Egrag Crypto observes liquidity sweeps and order-block formations within the current trading range. This suggests that institutional players may be targeting liquidity zones above resistance levels before reversing prices lower, a pattern consistent with the Smart Money Concept (SMC). Such liquidity manipulation often precedes significant directional market moves.

Symmetrical 89-Day Cycles Indicate One More Reaction Before Breakout

Egrag’s “As Above, So Below” chart analysis compares two symmetrical 89-day market cycles and reveals repeating price behavior within Fibonacci retracement zones between the 0.618 and 1.414 levels. The current market phase appears to replicate a prior accumulation pattern, with approximately an 80% probability of experiencing a rejection at a critical resistance point before a potential breakout on the fifth touch.

Technical models therefore suggest that XRP will remain range-bound in the near term as it approaches the completion of this structural pattern. Analysts also note that achieving equilibrium between buy-side and sell-side liquidity could set the foundation for a more significant price movement once the pattern resolves.

Conclusion

Grayscale’s Amendment No. 2 filing repositions XRP prominently in the regulated institutional landscape just as the token’s ecosystem gains real-world traction. Combined with technical indicators pointing to imminent market shifts, XRP could be gearing up for notable developments both on the regulatory front and in price action. Investors and market watchers will want to monitor these evolving dynamics closely in the coming weeks.
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