First US Spot XRP ETF Debuts With $58M Volume, Year’s Best Launch

XRPC from Canary Capital, the first US exchange-traded fund to offer direct exposure to XRP, He entered strongly on Thursday With $58 million in trading volume on the first day.

Key takeaways:

• Canary Capital’s XRPC ETF debuted with $58 million, the strongest first-day performance of any ETF launched this year.

• XRPC and Bitwise’s Solana ETF now dominate 2025 ETF launches, with the second-best fund trailing by more than $20 million.

• This rise reflects rising institutional demand for regulated access to altcoins, even as the price of XRP shows little immediate reaction.

This number represents the strongest debut of any ETF launched this year, surpassing more than 900 new funds. According to Bloomberg ETF analyst Eric Balchunas.

This launch narrowly beat out Bitwise’s Solana ETF (BSOL), which registered $57 million on its first day.

The two funds are now well ahead of the rest of the 2025 class, with the ETF trailing in third place by more than $20 million, indicating that crypto-related products continue to dominate early-stage investor demand.

XRPC’s opening performance underscores the growing institutional desire 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 well-established ecosystem appear to have contributed to institutional interest, although the token itself saw little immediate price movement after the ETF’s debut.

The strong early volume suggests that investors are keen on regulated, exchange-listed vehicles that allow them to access alternative digital assets without holding tokens directly.

Whether the momentum continues will be closely watched in the coming weeks, especially as the market assesses broader interest in the XRP Ledger’s payment infrastructure and its long-term benefit.

Meanwhile, XRP suffered a sharp 7.3% decline, breaking below the key support level of $2.30 in one of its most volatile sessions in weeks, just as the first US-based XRP ETF made its market debut.

The decline was seen across an aggressive trading range of $0.23, with 157.9 million XRP changing hands, nearly 50% above normal volume.

The primary crash occurred during a four-minute liquidation wave between 04:32 and 04:35 UTC, when the price of XRP fell from $2,313 to $2,295.

An explosion of 4.06 million XRP in one minute marked the peak point of tension in the session, followed by a brief freeze of liquidity as order books dwindled.

Cross-chain activity added to the uncertainty, as 110.5 million XRP was moved between unknown wallets during the sell-off.

It is worth noting that many market analysts now We expect XRP to end 2025 above $3.50With the potential to reach $5 by 2026 if institutional flows maintain momentum.

The XRP/USD chart displays Elliott Wave analysis that predicts an exciting bullish scenario.

The chart shows that XRP completed a five-wave impulse structure from 2013 to 2018 (wave 1), followed by a long-term corrective wave 2 that bottomed around 2023.

Analysis indicates that XRP is now in the early stages of wave 3, the strongest impulse wave historically.

The projection shows a potential rally towards the $5-6 range, which would represent gains of over 150% from current levels around $2.40.

Key Fibonacci extension levels have been identified, 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.

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