Reports from Ripple Swell 2025 conferences show increasing interest in XRP. Traders and fund managers are watching November closely.
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According to speakers at the event, several planned moves could push more money into the token in the short term.
Canary Capital ETF schedule
Canary Capital’s spot ETF is scheduled to launch following an updated S-1 filing, with a possible automatic launch 20 days later on November 13.
Reports from the stage cited Steven McClurg, CEO of Canary Capital, as confirming the update. That requirement removed an amendment clause that would have given the SEC more control over the effective date of the product.
Based on the report, the deadlines could still be pushed back if the SEC brings back questions or if government operations change, but for now, Nov. 13 stands out as the key date.
Retail and whale activity Cool
CryptoQuant charts show that retail trading activity has cooled since the massive sell-off on October 10, when around $19 billion disappeared in a single day.
Small investors have retreated into the neutral zone, which some analysts are reading as a cautious wait rather than an exit. At the same time, large on-chain transfers to exchanges have fallen sharply – from roughly 49,000 on October 25 and 44,000 on October 11 to around 800 on a recent Friday.
This decline in transactions between whales and exchanges suggests that fewer large sellers are currently moving funds to exchanges.
“The last half of November will be big for $XRP and @Ripple“, he said @TeucriumETFs CEO @GilbertieSal during the recap #RippleSwell Day 1. Head on the turnstile, ladies and gentlemen… Believe! ✨ pic.twitter.com/mw9VLuRUCB
— rayfuentes (@RayFuentesIO) November 5, 2025
Institutional signals
Speakers at Swell pointed to growing institutional interest. Teucrium CEO Sal Gilbertie told the audience that the last half of November could be very important for XRPlinking that view to broader trends in tokenization and institutional flows.
Citibank projections cited at the event said tokenized assets could reach trillions within five years, and other panelists mentioned planned moves by traditional financial players.
Based on the report, Circle also has plans to begin trading its shares publicly in early December, which some see as another push toward greater inclusion in the mainstream.
Tips from market players
Gilbertie urged incumbents to focus on the long term. “Believe in it. Don’t worry about the volatility. It will even out as adoption comes in and more institutional money comes in,” he said.
This opinion was shared by other commentators who pointed out that the ETF ads and institutional involvement have historically changed the way markets value assets.
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What to watch next
Market participants will be watching the SEC’s proceedings, any additional filings and whether the government’s calendar affects the ETF’s start date.
Signals in the chain – such as whale transfers and exchange flows – will also be closely monitored. For now, reports suggest a mix of caution among retailers and growing interest at the institutional level, with November 13 marked as the date many are watching.
Featured image from Unsplash, chart from TradingView
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