Elden Ring offers players the chance to experience one of several possible endings based upon their actions throughout the course of their journeys across the Lands Between, but of all of the endings, one of them is most likely to be canon. Most of Elden Ring's endings require the player to complete lengthy questlines, some of which span the length of the game and take the player to areas they may not otherwise come across. Most of the endings are also tied to specific NPCs and usually result in furthering their goals or agendas for The Lands Between, such as Elden Ring's own horror star, the Dung Eater.
[Warning: The following article contains spoilers for Elden Ring.]
However, given the length of the game and the size of the map, many of these questlines can be easily missed or lost track of, so players will have to be vigilant to make sure all of the endings are available. It's also important to note that the Lord of Frenzied Flame ending will lock players out of the other endings unless the "condition" is cured with the use of a special item obtained from another NPC questline originating in Caelid. The remaining endings can all be obtained together, with the player given a final decision as to which ending they would like after beating the final boss, although some of Elden Ring's endings are better than others.
It is important to note that FromSoftware's typical storytelling style often means that its games often don't have a true "canon" ending, as a narrative facet of titles such as Bloodborne and Dark Souls revolves around the idea of cycles repeating over the course of vast amounts of time, essentially letting all endings be considered "canon" as the player's hero is just one of many. Elden Ring holds some narrative similarities in the respect that the player is one of many Tarnished questing across The Lands Between, although some of its endings would indicate such a radical shift in the Lands Between that it may not be the case for Elden Ring.
Elden Ring's Canon Ending Is Probably Its Default Ending
After defeating the Elden Beast, the player stands before Elden Ring's often mentioned Queen Marika and is presented with up to five possible choices based on the player's actions. But only one choice is available to every player who reaches this point, regardless of side quest progression, the option to merely mend the titular Elden Ring without any alterations, essentially returning to the previous world order before the Shattering. By virtue of the fact that this ending is available to every Tarnished, it is the one that could most be considered canon, and could potentially allow the theory of a cycle to continue.
As the Tarnished has done nothing beyond merely reverting what occurred when the Elden Ring was originally shattered long ago, it is entirely possible for the Shattering to occur again, and it does not address the issues such as Those Who Live in Death or the fickleness of the gods, such as some of the alternate endings address. On the other hand, it offers a great deal more hope and stability to the residents of the Lands Between than some of the other endings, such as the Lord of Frenzied Flame ending or Dung Eater's cursed ending. As such, it seems that the Age of Fracture ending stands as a true neutral ending, with the Tarnished fulfilling their duty to the letter.
By following in Godfrey's footsteps in Elden Ring, becoming Elden Lord, the player essentially becomes Marika's new consort, ruling the Lands Between in her name. The Golden Order would likely retain its power and influence, and in turn, so too would the Two Fingers and, by extension, the Greater Will. This has unknown implications for the Tarnished player moving forwards, as the Greater Will remains largely a mystery, actively working to stop the player from mending the Elden Ring with the aid of Radagon.
The Greater Will is responsible for the condition Queen Marika is in by the end of the game. As punishment for her defiance in the Shattering, she was held prisoner beneath the Erdtree until the player and Melina burn Elden Ring's Erdtree. Radagon, by contrast, tried to repair the ring but failed, and thus the Greater Will employed Marika's male half as its champion and defender of the Elden Beast in turn, a living embodiment of the Elden Ring. It is unclear why the Greater Will attempts to stop the Tarnished from mending the Elden Ring whilst also seemingly rewarding Radagon for the attempt, a state of affairs players may be confused by given the events of the story leading up to that point. It may simply be related to keeping Queen Marika imprisoned, as she was the ring's vessel and even the Greater Will could not separate the two, but more information may come to light as players pore over the game's lore.
Elden Ring's religion, the Golden Order, is centered around the worship of the Erdtree, and in the Age of Fracture ending, this practice would likely continue, with the player potentially even becoming the de facto head of the Order by virtue of being Elden Lord. Although the ending involves the player rebuilding Marika's crumbling body, it does not appear that she will have any influence over their rule, meaning that her own personal issues with the Golden Order and the Greater Will will no longer be relevant. This also serves to make the Age of Fracture the only ending in which the Tarnished is serving only their own agenda, without any input from the other denizens of the Lands Between.
Despite rumors and fakes of a supposed seventh ending for Elden Ring, even as of the latest patches there has yet to be any evidence of its existence beyond that of cut content. As such, it's probably safe to say that the six endings players have are all of the endings Elden Ring has in store, which means that the Age of Fracture still stands as the most likely candidate for a canon ending. It is possible that FromSoftware will introduce DLC that canonizes an ending for sure, but until then, it will largely be up to players to decide on their own canon ending for Elden Ring.