XRP (CRYPTO: XRP) has slid 9% in the past 24 hours despite a blockbuster debut for the Canary Spot XRP ETF, which attracted nearly $250 million on launch day.
What Happened: The inflows mark the largest crypto ETF debut of 2025 and the highest first-day volume among more than 900 ETFs this year, according to NovaDiusWealth President Nate Geraci, who noted that few expected such a strong showing.
The launch coincides with Washington’s reopening after a 43-day shutdown, boosting confidence in new crypto ETF approvals.
Major firms like Fidelity and Invesco have already lined up their own XRP products, while Ripple continues accelerating its ecosystem by tripling its valuation to $40 billion and partnering with Mastercard and Gemini on stablecoin payment rails.
XRP has gained 216.9% over the past year, fueled by growing real-world utility, renewed legal clarity, and anticipation of an ETF listing.
Also Read: First XRP ETF Turns Over $26 Million In 30 Minutes—And XRP Surges 3%
Why It Matters: Crypto supporter Paul Barron argued BlackRock underestimated XRP demand, handing Canary a powerful first-mover advantage.
Meanwhile, trader CW noted XRP has hit a buy wall again, even as volatility picks up.
Trader DonAlt, who entered the launch hype, exited his XRP position with only a minor scratch after early strength faded. He also sold his spot holdings and plans to step back from trading entirely until a high-conviction setup emerges.
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