XRP News Today: Unprecedented Volume in XRP ETF Points to Growing Institutional Interest in Altcoin
- Canary Capital's XRP ETF (XRPC) launched on Nasdaq with $58M in first-day volume, surpassing Bitwise's Solana ETF benchmark. - Despite a 7.8% XRP price drop, the ETF attracted $245M inflows, reflecting strong institutional and retail demand. - Analysts noted XRPC's resilience amid a 3.5% crypto market decline, though price pressures persisted from broader sell-offs. - Eleven XRP ETFs now listed on DTCC, with SEC guidance accelerating approvals, though Bitcoin/ETH ETFs remain significantly larger.
Canary Capital's
The ETF’s strong start was driven by a mix of retail excitement and institutional endorsement.
Meanwhile, downward price pressure mirrored wider market trends. XRP’s fall coincided with a 4% slide in the broader crypto sector, as leveraged positions were liquidated and technical supports like the 50-day EMA at $2.38 were breached.
The ETF’s introduction also revived discussions about Ripple’s involvement. While some speculated about links between Canary’s
Looking forward, the XRP ETF market is poised for growth. Eleven XRP ETFs are now listed with the Depository Trust & Clearing Corporation (DTCC), with applications from major players such as Bitwise, Franklin Templeton, and CoinShares.
Despite these differences, XRPC’s launch confirmed XRP’s distinctive role in the market. Unlike Bitcoin’s “unprecedented” ETF debut, XRPC entered a more established ETF environment with lower expectations, making its record particularly significant for altcoin adoption.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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