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    XRP ETF Launches In The US With $58M Volume: Hype Or Heavyweight?

    8okaybaby@gmail.comBy No Comments6 Mins Read
    XRP ETF Launches In The US With M Volume: Hype Or Heavyweight?

    Canary Capital launched the first US ETF that provides direct exposure to XRP. The fund will start trading today on Nasdaq under the ticker XRPC.

    Pretty wild to think that it saw a $58M trading volume right at the start. That is more than any other ETF launched this year (approximately 900 funds), according to Bloomberg’s ETF analyst Eric Balchunas. It even beat out Bitwise’s Solana ETF by a hair.

    These two crypto ETFs are way ahead of the rest, with the third-best launch trailing by more than $20M, showing that investors’ demand for crypto-linked products is still going strong.

    “XRP is one of the most established and widely used digital assets in the world, accessibility to XRP through an ETF will enable the next wave of adoption and growth in a critical blockchain system,” said Steven McClurg, CEO of Canary Capital.

    Investors are hungry and want to get in on the action. However, they also want to minimise the risks that come with crypto. They want ways to gain crypto exposure without directly holding the tokens. XRPC gives them that option.

    On the other hand, whether this momentum lasts will depend on how the market speculates on XRP’s long-term prospects as a global-payments enabler.

    Despite its popular demand, it had little to no effect on XRPs’ price action.

    EXPLORE: Top Solana Meme Coins to Buy in 2025

    XRP Drops By 7% Amid ETF Launch: Is $5 Possible?

    Just as the US spot

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    XRP

    XRP





    7.45%








    XRP

    XRP
    XRP


    Price

    $2.27

    7.45% /24h





    Volume in 24h


    $7.35B
    <!–
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    Price 7d

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    ETF launched, XRP tumbled by 7.3%, breaking below the key support at $2.03, marking it as one of the more volatile trading sessions of the week.

    XRP swung across $0.23 range, and nearly 158 M tokens changed hands, which is about 50% more than usual.

    Market Cap





    The steepest drop happened within just four minutes when XRP fell from $2.313 to $2.295. Moreover, 4M XRP tokens were unlocked just before the launch of the ETF, freezing liquidity for a brief moment as buyers and sellers both pulled back.

    Adding to the chaos, over 200M XRP moved between unknown wallets during the selloff, causing a lot of speculation.

    Despite the turbulence, however, the crypto heads are optimistic. Many believe that XRP could climb above $3.50 by the end of this year and possibly hit $5 in 2026 if institutional interest in XRP is maintained.

    Technical reading of the charts using Elliott Wave theory suggests that XRP might be entering an upward phase. It completed a major growth cycle from 2013 to 2018 (Wave 1), followed by a long correction that ended around 2023 (Wave 2).

    It seems like it is starting the third wave of its growth cycle, which typically is the most powerful.

    Based on Fibonacci levels, XRP has already hit the $2.20 mark (0.786 extension). The next targets are $3.50 (1.00 extension) and potentially $5.50 (1.618 extension), which would mean a gain of over 150% from current prices near $2.40.

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    Is It All Hype? Or Is It A Heavyweight?

    Now that the first XRP spot ETF token has launched, was it all hype that made its price shoot up, or is there a real, built-up demand?

    Canaray Capital for sure got a head start by being the first to the market, but bigger players like Franklin Templeton and Bitwise are biding their time and may attract significantly more investment when they’re ready to launch their own products.

    According to VettaFi, a FinTech and data company, these firms rank much higher than Canaray Capital in terms of Assets Under Management (AUM). Franklin Templeton is #19 and Bitwise is #56, compared to Canary Capital at #238.

    Both Franklin Templeton and Bitwise are expected to launch their own XRP spot ETFs next week, after updating their filings to remove delays.

    EXPLORE: 20+ Next Crypto to Explode in 2025

    Key Takeaways

    • XRPC ETF launched with record $58M volume, beating 900+ funds, including Solana’s
    • XRP price dropped 7.3% during ETF debut, triggering high-volume selloff and wallet movements
    • Analysts predict XRP could reach $5 by 2026, backed by institutional interest and technical charts

    The post XRP ETF Launches In The US With $58M Volume: Hype Or Heavyweight? appeared first on 99Bitcoins.

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