The
XRP
market is at a crucial crossroads as the introduction of the first U.S. spot XRP exchange-traded fund (ETF) brings both hope and caution to investors. Canary Capital's
XRPC ETF
, which started trading on November 14, 2025, recorded $58 million in its first-day trading and attracted over $250 million in inflows,
making it the top-performing ETF launch of the year
, surpassing 900 other new funds. The ETF's impressive debut is credited to its in-kind creation system,
enabling investors to swap XRP tokens directly for ETF shares
, avoiding cash settlements and reducing tracking discrepancies. This approach helped the ETF draw strong inflows even as the broader crypto market struggled,
with institutional players taking $44 million in long positions within a single day
.
Despite this, XRP's value continues to face downward pressure,
trading at $2.23 as of November 16
, which is 4.3% below its peak following the ETF's launch. Market experts
cite subdued retail interest
and a drop in the "supply in profit" metric—now at a one-year low of 44 million XRP—as indicators of persistent bearishness. The token's inability to maintain key moving averages and a Relative Strength Index (RSI) reading of 43 further highlight its fragility. At the same time,
a trader has placed a $27.4 million short bet
on XRP, reflecting doubts about a quick rebound.
The ETF's approval by the SEC in July 2025 was a major turning point.
Bloomberg ETF analyst Eric Balchunas remarked
that XRPC's launch only narrowly surpassed competing
Solana
ETFs, underscoring XRP's greater appeal among traditional financial institutions.
Canary's CEO, McClurg,
stated that XRP's established network
and its compatibility with existing financial systems give it an advantage over newer platforms like Solana. This view is shared by institutional investors, as
Presto's Min Jung noted pent-up demand
for regulated XRP access after Ripple's recent legal wins.
The overall market environment remains challenging. The total value of the crypto market
dropped 3.5% to $3.43 trillion
in the week after the ETF launch, with
Bitcoin
and
Ether
falling by 3.89% and 3.38%, respectively.
Experts attribute this to a risk-averse mood
fueled by the Federal Reserve's hawkish policies and increased selling by long-term holders. Glassnode's data also reveals that XRP's profitable supply has fallen to levels last seen in November 2024,
suggesting most holders are now facing unrealized losses
.
Looking forward, Franklin Templeton's soon-to-launch XRP ETF,
scheduled for November 20
, could further boost institutional participation. As a firm overseeing $1.5 trillion in assets, Franklin Templeton's involvement is expected to add substantial liquidity, with analysts estimating first-day trading between $150 million and $250 million. This continues a pattern of major asset managers, such as Bitwise, entering the XRP ETF market, reflecting growing mainstream acceptance.
Although short-term fluctuations remain, some analysts believe a reversal could occur if XRP's shrinking available supply and ETF-driven demand force buyers back into the market. However, any sustained recovery will hinge on broader economic stability, ongoing regulatory progress, and continued institutional interest—factors that remain uncertain in the present environment.
Canary Likely to Hit Pause on ETF Filings
: Canary Likely to Hit Pause on ETF Filings With XRP, Eyes SEC Shift for What's Next
Ripple Price Forecast: XRP extends decline as supply in profit falls to one-year low
: Ripple Price Forecast: XRP extends decline as supply in profit falls to one-year low
Canary's XRP ETF Outperforms All 2025 Launches With $58 Million In Day-One Trading Volume
: Canary's XRP ETF Outperforms All 2025 Launches With $58 Million In Day-One Trading Volume
XRP ETF Debut Draws $250M Inflows Amid Smart Money Long Positions
: XRP ETF Debut Draws $250M Inflows Amid Smart Money Long Positions
Franklin Templeton XRP ETF Launches Tomorrow: Key Things To Know
: Franklin Templeton XRP ETF Launches Tomorrow: Key Things To Know
Key facts: Canary XRP ETF Launches; Trader Opens $27.4M Short Position
: Key facts: Canary XRP ETF Launches; Trader Opens $27.4M Short Position
XRP Falls 4.3% Even After XRPC ETF Launch on Bitcoin Weakness, Finds Buyers Near $2.22
: XRP Falls 4.3% Even After XRPC ETF Launch on Bitcoin Weakness, Finds Buyers Near $2.22