Canary Capital’s XRP exchange-traded fund (ETF) has seen sturdy demand inside its first days of buying and selling. But, XRP’s worth fell practically 11% for the reason that ETF’s launch, as whale promoting and general market stress restricted the influence of institutional demand.
This disconnect between ETF inflows and XRP worth efficiency raises questions on how rapidly institutional capital can influence cryptocurrency markets, particularly during times of volatility.
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XRP ETF Breaks Information, However Token Worth Lags Behind
BeInCrypto reported that Canary Capital launched its Spot XRP ETF (XRPC) on Nasdaq final week. The fund noticed practically $59 million in first-day buying and selling quantity, the strongest debut amongst greater than 900 ETF launches in 2025.
In line with SoSoValue knowledge, the ETF introduced in $245 million in inflows on its first buying and selling day. Over the next two classes, cumulative inflows rose to greater than $268 million.
Regardless of these inflows, XRP’s worth has declined round 11% since November 13. BeInCrypto Markets knowledge revealed that the altcoin was buying and selling at $2.14 at press time, down 5.22% over the previous day.
Glassnode famous that solely 58.5% of the XRP provide is presently in revenue. This marks the bottom studying since November 2024, when the token was priced round $0.53.
“At the moment, regardless of buying and selling ~4× larger ($2.15), 41.5% of provide (~26.5 billion XRP) sits in loss — a transparent signal of a top-heavy and structurally fragile market dominated by late patrons,” the publish added.
This distinction reveals a notable disconnect between the ETF’s sturdy inflows and the underlying asset’s worth efficiency — elevating the query of why such divergence has emerged.
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Properly, XRP whales contributed considerably to the current worth drop. Experiences point out whales bought round 200 million XRP inside 48 hours of the ETF launch.
This massive-scale promoting offset the ETF’s impact, intensifying detrimental sentiment. The timing of whale gross sales suggests profit-taking, as massive holders might have considered the ETF launch as a chance to exit.
Moreover, broader market weak spot has put extra stress on XRP’s worth. Over the previous 41 days, the cryptocurrency sector has misplaced a complete of $1.1 trillion in market worth, representing a median day by day decline of roughly $27 billion.
“For these crying in regards to the worth motion, do me a favor and go have a look at Bitcoin, that’s your motive why the worth sucks proper now,” an analyst famous.
In the meantime, an skilled additionally emphasised that liquidity from institutional funding typically takes time to have a big influence on costs. In line with him, the lag between ETF inflows and worth might persist.
He added that the noticeable results might not present up till 2026, opposite to retail expectations.
Notably, technical indicators recommend that XRP’s current struggles could also be nearing an finish. XRP’s Internet Unrealized Revenue and Loss (NUPL) dropped to 0.32 on November 16, its lowest degree in a 12 months. This might sign a possible market backside.
“Sentiment is now again within the worry/nervousness zone, which has beforehand marked main bottoms,” STEPH IS CRYPTO mentioned.
BeInCrypto highlighted that the final time NUPL reached a yearly low — 0.43 on April 8 — XRP climbed from $1.80 to $3.54 by July 22, representing a 96% enhance.