• Canary Funds XRP ETF set for potential launch on November 13
• Michael Saylor reacts to Bitcoin price crash with symbolic post
• Cardano records death cross as whales offload 100 million ADA

Canary Funds XRP ETF set for potential launch on November 13

The first pure spot XRP ETF could be just around the corner, with Canary Capital filing an updated S-1.

• Key update. Canary Funds has filed an updated S-1 with the SEC for its proposed XRP ETF.

Exchange-traded fund Canary Funds has filed an updated S-1 (a key registration document with the SEC) for an XRP ETF.  In that update, the issuer removed something called a "delaying amendment." This essentially means that the filing automatically becomes effective after 20 days. 

The countdown ends on Nov. 13, so this is the day when the product will be able to automatically 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, which is a filing that makes the product's shares tradable, the ETF will officially go live. However, the date could still change if the SEC ends up adding more comments.  Last month, as reported by U.Today, the ETF was listed by the Depository Trust & Clearing Corporation (DTCC). 

Michael Saylor reacts to Bitcoin price crash with symbolic post

Strategy CEO keeps faith in Bitcoin as a new sell-off cycle emerges.

• Key update. Michael Saylor addressed the recent Bitcoin (BTC) price crash.

Strategy CEO Michael Saylor shared his take on the recent Bitcoin (BTC) price crash. His comments have sparked reactions within the crypto community, with many supporting his take.

The post features a dramatic photo of himself seated at a chessboard with carved pieces and an hourglass ticking beside him.  This visual suggests a calculated, long-term game, symbolizing strategy, and the hourglass hints at time-sensitive moves in the BTC price. 

• Market background. His message alludes to an ongoing “battle” for Bitcoin’s bull market.

His comments also suggest a battle for the BTC bull market's continuity despite the ongoing price drawdown. Furthermore, the "battle" likely represents the ongoing struggle between Bitcoin and traditional financial systems, including fiat currencies and market makers. 

Cardano records death cross as whales offload 100 million ADA

Cardano has completed a death cross as the sell-off worsened in a volatile Thursday session that saw nearly $1.13 billion in leveraged futures liquidations.

• Price update. Cardano has extended its decline for a fourth consecutive day since reaching a weekly high of $0.693.

Cardano, the 10th-largest cryptocurrency, extended its slide since the week's start, now entering its fourth day of dropping since Monday's high of $0.693.

Amid the drop, Cardano has completed a death cross on its short-term charts, specifically the hourly chart. The hourly MA 50 has fallen below the hourly MA 200, completing a "death cross" on the Cardano USD hourly chart, reflecting selling pressure in the short term.

According to Ali, a crypto analyst, large Cardano holders took profits in the last three days as the price fell, with 100 million ADA sold by whales in 72 hours.

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