XRPC ETF Triumphs: Bitcoin & Solana Left in Dust!

Ah, mon ami! The debut of the Canary XRP ETF (XRPC) has become the talk of the town in the year 2025, eclipsing the launches of Solana and even Bitcoin ETFs. Yet, in a twist worthy of Molière himself, despite its grand entrance, the price of XRP took a dramatic dive. Oh, the folly of the markets! 🎭

XRP ETF Inflows Outshine Bitcoin and Solana

Canary Capital, with a flourish, revealed that XRPC attracted a staggering $245 million in net inflows on its first day of trading. This sum surpasses the inflows of every existing spot Bitcoin ETF, including BlackRock’s IBIT ($111.7 million) and Bitwise’s BITB ($237.9 million). Truly, a coup de théâtre! 🎉

CEO Steven McClurg had foreseen this triumph, predicting that XRP demand could rival or exceed interest in Solana ETFs. His prophecy, it seems, was penned by the stars themselves, supported by XRP’s considerable market cap and liquidity. 🌌

Record-Breaking Trading Volume

Not to be outdone, XRPC also delivered a remarkable $59 million in first-day trading volume, setting a new record among over 900 ETF launches in 2025. 🥇

Bloomberg ETF analyst James Seyffart confirmed that XRPC dethroned the previous record held by Bitwise Solana Staking ETF (BSOL), which saw $57 million. Eric Balchunas, another sage of Bloomberg, noted early on that XRPC had already crossed $26 million within the first 30 minutes, far exceeding his initial estimate of $17 million. 📊

CEO McClurg later clarified why volume figures appeared lower than inflows: in-kind creations do not contribute to trading volume, thus explaining the discrepancy between $245 million in inflows and $59 million in trades. A clever sleight of hand, indeed! 🎩

XRP Price Falls Despite the Milestone

In a twist befitting a Greek tragedy, XRP’s price fell by 8% within 24 hours, hitting a low of $2.28 before stabilizing near $2.30. Yet, trading volume surged by more than 40%, indicating a flurry of activity surrounding the debut. 📉

Meanwhile, XRP futures cooled, with total open interest dropping to $3.71 billion, including notable declines on CME and Binance. The market, it seems, is a fickle mistress. 😐

Solana Declines as Market Turns Lower

Solana, too, felt the sting of the broader market downturn, with SOL dropping by 8% to around $143.56. Thus, XRPC’s exceptional debut stood in stark contrast to an overall bearish day in the crypto market. 🐻

On-chain analyst Ali Martinez highlighted a critical support zone for XRP around $2, suggesting that if selling pressure persists, buyers may attempt to regain control in this region. His view aligns with the broader sentiment that $2 is both a psychological and technical support level. 🛡️

Should XRP hold above this zone, a rebound may follow. However, a confirmed breakdown below $2 could expose the token to deeper downside. The stakes are high, mon ami! 🎲

Never Miss a Beat in the Crypto World!

Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more. Your journey through the crypto cosmos awaits! 🚀

FAQs

Why did XRP’s price fall after the Canary XRP ETF launch?

Traders took profits amidst the ETF hype, and broader market sentiment turned bearish, despite strong inflows and volume.

How much money flowed into the new Canary XRP ETF (XRPC) on day one?

The XRPC ETF saw about $245 million in net inflows on its first day, marking one of the strongest crypto ETF launches of the year.

Does the strong XRPC ETF debut mean XRP will rise soon?

A price rebound isn’t guaranteed. XRP must hold key support near $2, and overall market conditions must improve before any sustained recovery.

How did XRPC’s trading volume compare to other crypto ETFs?

XRPC hit around $59 million in first-day trading volume, topping every other ETF debut this year and setting a new 2025 record.

2025-11-14 11:05