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Canary Capital’s XRPC, the first US spot exchange-traded fund to offer direct exposure to XRP, made a powerful entrance on Thursday with $58 million in first-day trading volume.
Key tips:
- Canary Capital’s XRPC ETF debuted with $58 million in volume, the strongest first-day performance of any ETF launched this year.
- Bitwise’s XRPC and Solana ETF now dominate 2025 ETF launches, with the next best fund tracking over $20 million.
- The increase reflects growing institutional demand for regulated access to altcoins, even as XRP’s price showed little immediate reaction.
The figure marks the strongest debut of any ETF launched this year, surpassing more than 900 new funds, according to Bloomberg ETF analyst Eric Balchunas.
The launch narrowly beat Bitwise’s Solana ETF (BSOL), which registered $57 million on the first day.
XRP and Solana ETF Dominate 2025 Launches by Wide Margin
Both funds are now well ahead of the rest of the 2025 class, with the third-place ETF worth more than $20 million, a sign that crypto-related products continue to dominate early-stage investor demand.
XRPC’s opening performance highlights growing institutional appetite for exposure beyond bitcoin and ether as capital begins to flow toward altcoins with strong use case narratives.
XRP’s role in cross-border payments and its established ecosystem appears to have contributed to institutional interest, although the token itself saw little immediate price movement following the ETF’s debut.
The strong initial volume suggests that investors are eager for regulated, exchange-listed vehicles that allow them to access alternative digital assets without holding the tokens directly.
Whether the momentum continues will be closely watched in the coming weeks, particularly as the market assesses broader interest in XRP Ledger’s payment infrastructure and long-term utility.
XRP falls 7.3% as the first Spot ETF debuts in the US
Meanwhile, XRP suffered a sharp 7.3% drop, crashing below the key $2.30 support level in one of its most volatile sessions in weeks, as the first US spot XRP ETF made its market debut.
The decline developed into a violent $0.23 trading range, with 157.9 million XRP traded, almost 50% above normal volume.
The heart failure hit during a four-minute liquidation wave between 04:32 and 04:35 UTC, when XRP fell from $2,313 to $2,295.
A one-minute burst of 4.06 million XRP marked the peak stress point of the session, followed by a brief freeze of liquidity as order books dwindled.
On-chain activity added to the uncertainty, with 110.5 million XRP moving between unknown wallets during the sale.
In particular, many market analysts now predicts XRP could end 2025 above $3.50with the potential to reach $5 by 2026 if institutional inflows sustain the momentum.
The XRP/USD chart shows an Elliott Wave analysis projecting a dramatic bullish scenario.
The chart shows that XRP completed a five-wave impulse structure from 2013 to 2018 (Wave 1), followed by a prolonged correction Wave 2 that peaked in 2023.
Analysis indicates that XRP is now in the early stages of Wave 3, historically the most powerful momentum wave.
The projection shows a potential rally towards the $5-6 range, which represents more than 150% gains from current levels around $2.40
Key Fibonacci extension levels are marked, with the 0.786 extension around $2.20 (already achieved) and the 1.00 extension near $3.5 serving as the next target before the 1.618 extension near $5.5.
