XRP is trading around $1.40 on Binance perpetual futures as of April 16, 2026. Behind the price action, a regulatory clock keeps getting reset. GraniteShares has once again pushed back the effective date for its XRP ETF products — this time to April 23, 2026 — according to a Form 485BXT filed April 15 with the U.S. Securities and Exchange Commission and signed by GraniteShares ETF Trust President William Rhind.
The filing covers Post-Effective Amendment No. 107, which contains the prospectus registrations for the GraniteShares 3x Long XRP Daily ETF and the GraniteShares 3x Short XRP Daily ETF. It also covers similar 3x products for Bitcoin, Ether, and Solana. The same amendment has been pushed back several times now — first to April 2, then April 9, then April 16, and now April 23.
Another Week, Another Extension From the SEC
The delay mechanism here is a 485BXT form, a procedural tool under Rule 485 of the Securities Act of 1933. It does not indicate rejection. It designates a new effective date for an already-filed post-effective amendment, keeping the registration live without forcing a new submission. GraniteShares used it again on April 15 to shift the clock one more week.
The EDGAR index for the specific series confirms the GraniteShares 3x Long/Short XRP Daily ETF filings remain active under the trust. William Rhind’s signature appears on each successive delay amendment. The pattern, four consecutive weekly delays from the same issuer on the same amendment, is not standard procedure. It points to something still pending in the approval process.
The original December 2025 prospectus referenced in Amendment No. 107 was itself an update on proposals first filed back in October 2025. Teucrium’s 2x Long Daily XRP ETF had already pulled in over $440 million in assets under management by that point, which GraniteShares cited as evidence of sustained demand. The 3x version would go further. Twice the leverage beyond what was already trading.
Price Holding Ground While Paperwork Stalls
On the trading side, @CW8900 posted a 1-hour candlestick chart of XRP/USDT perpetual futures on Binance on April 16, covering price action from roughly April 9 through the current date.
“Net longs rising sharply to approximately 29.55M, with open interest growing alongside price — upward momentum continues.”
According to @CW8900 on X, XRP broke above the $1.38 consolidation zone with sustained green candles and is holding near $1.40 to $1.41. Net long positioning on the perpetuals stands at roughly 29.55 million, with open interest climbing alongside price. That combination, rising OI with rising price, typically means fresh money entering long positions rather than short covering. The $1.38 to $1.39 area now acts as immediate support.
Resistance sits at $1.41 to $1.42. A move past that opens a path toward $1.45 to $1.50 if buying holds. The risk scenario, according to the chart, is a failure below $1.38 or a sudden drop in net longs. Either would put $1.32 to $1.35 back in play.
What the Weekly Delay Pattern Actually Signals
Four weekly extensions on the same amendment is not noise. It means one of two things: either GraniteShares is waiting on a specific SEC response or clearance before the products go live, or there is an internal review process that keeps needing more time. Either way, the products have not been rejected. They remain registered, funded, and structurally ready.
For traders watching the XRP perpetuals, the relevance is direct. Leveraged ETFs tied to XRP price — especially a 3x product — would introduce a new class of institutional-grade exposure that does not currently exist in regulated U.S. markets. The existing 2x products attracted over $300 million in combined inflows within months. A 3x version, if launched, shifts the demand math further.
The April 23 deadline now becomes the next date worth watching. If GraniteShares files another 485BXT before that date, the delay continues. If not, Post-Effective Amendment No. 107 becomes effective and the products move one step closer to trading.
