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.
Congrats to $XRPC for $58m in Day One volume, the most of any ETF launched this year (out of 900), BARELY edging out $BSOL’s $57m. The two of them are in league of own tho as 3rd place is over $20m away. pic.twitter.com/MjsOeceeNb
— Eric Balchunas (@EricBalchunas) November 13, 2025
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.
$XRP really pulled the ultimate ‘gotcha’ this week.
All that ETF hype had us ready for liftoff…
and price just FALL !!!
My disappointment? A dramatic 9.3/10-
I’m not crying, but don’t ask me to smile either😒
Count with me 1..2..3..4..5.. now that we’ve had few seconds to… pic.twitter.com/F7rYc9B8gv— CryptoCupcake (@Tishiepooh) November 14, 2025
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XRP Drops By 7% Amid ETF Launch: Is $5 Possible?
Just as the US spot
XRP
7.45%
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.
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.
When the fundamental landscape flips back risk on and the uncertainty and headwinds are behind us $XRP will easily hit
$3.82 -$4.44- $5.17
Our institutional software has shown dark pools sitting at each of these levels
Our algorithms haven’t missed yet
For now my… https://t.co/Opy8OU4k6R
— Cypress Demanincor (@CDemanincor) November 14, 2025
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.
$XRP has been in vertical accumulation since Jan 2025.
The coming breakout will be explosive. The 1.618 FIB extension on this move points towards $5/$6 once resistance blocks in the $2.60 range are cleared.
The weekly 55 EMA (blue line) is key support. Hope yall are ready 🚀 pic.twitter.com/9qzzDGv0bk
— 🇬🇧 ChartNerd 📊 (@ChartNerdTA) October 25, 2025
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.
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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
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