The Canary Capital XRP ETF (XRPC) launched with significant trading volume, exceeding $46 million in its first hours. Despite the ETF launch, XRP experienced a slight price dip, reflecting a potential “sell-the-news” reaction.
What to Know:
- The Canary Capital XRP ETF (XRPC) launched with significant trading volume, exceeding $46 million in its first hours.
- Despite the ETF launch, XRP experienced a slight price dip, reflecting a potential “sell-the-news” reaction.
- Analysts remain optimistic, projecting potential capital inflows and price appreciation for XRP due to the ETF and favorable regulatory developments.
The launch of the first XRP ETF marks a significant milestone for the crypto market, potentially opening the doors for increased institutional investment. The Canary Capital XRP (XRPC) exchange-traded fund, holding spot XRP, has garnered substantial attention and trading volume since its debut. While the initial price reaction saw a slight dip, the overall sentiment surrounding XRP remains bullish.
The XRPC ETF recorded impressive trading volume, reaching over $46 million within the first few hours. This strong initial interest positions it as a leading contender among 2025 ETF launches, potentially rivaling even the Bitwise Solana ETF (BSOL). Such high trading volume underscores the pent-up demand for XRP exposure through traditional investment vehicles.
Despite the positive reception of the XRP ETF, the price of XRP experienced a minor decline of 2.7% following the launch. This price action could be attributed to a classic “sell-the-news” event, where investors capitalize on the anticipation and hype surrounding a major announcement. However, the long-term implications of the ETF launch are expected to be positive, driving further adoption and liquidity for XRP.
Market analysts have long anticipated the potential impact of an XRP ETF on the cryptocurrency’s price. Earlier forecasts suggested that XRP could reach a price target above $10 following ETF approval in the United States. JPMorgan analysts have also projected that an XRP ETF could attract up to $8 billion in capital inflows, highlighting the significant institutional interest in XRP.
Current projections suggest a potential XRP rally to $5 by the end of 2025, fueled by the ETF launch and positive regulatory developments. The approval and successful launch of the XRP ETF signify a maturation of the cryptocurrency market and increasing acceptance from traditional financial institutions. As regulatory clarity continues to improve, XRP is poised to benefit from increased investment and adoption.
Related: XRP Price: $12M Max Pain for Bears
Source: Original article
Quick Summary
The Canary Capital XRP ETF (XRPC) launched with significant trading volume, exceeding $46 million in its first hours. Despite the ETF launch, XRP experienced a slight price dip, reflecting a potential “sell-the-news” reaction.
Source
Information sourced from official Ripple publications, institutional research, regulatory documentation and reputable crypto news outlets.
Author
Ripple Van Winkle is a cryptocurrency analyst and founder of XRP Right Now. He has been active in the crypto space for over 8 years and has generated more than 25 million views across YouTube covering XRP daily.
Editorial Note
Opinions are the author's alone and for informational purposes only. This publication does not provide investment advice.
