XRP’s First ETF Launches With $250M But Price Drops 9%

• XRP (XRP) fell 8% to 9% wrong a time of the Canary Capital ETF motorboat contempt the money pulling successful astir $250M successful first-day inflows.

• The XRP ETF’s in-kind instauration operation fto holders deposit tokens straight alternatively of buying connected exchanges, which reduced contiguous spot terms impact.

• Derivative markets saw $28M successful XRP liquidations wrong 24 hours arsenic traders unwound leveraged agelong positions during a broader crypto selloff.

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The motorboat of the archetypal U.S. spot XRP exchange-traded money was expected to beryllium a defining infinitesimal for Ripple's autochthonal cryptocurrency. Canary Capital's ETF debuted connected November 13, 2025 and pulled successful astir $250 cardinal successful inflows connected its archetypal day, beating each different 2025 ETF launch. The caller merchandise besides posted a grounds $58 cardinal successful day-one trading volume.

Yet alternatively of a sustained rally, XRP (CRYPTO: XRP) slumped. Within a day, the token fell astir 8% to 9%, dropping from astir $2.31 toward the $2.20 area. That opposition tells you everything astir the analyzable dynamics astatine play.

Here's what happened, wherefore the terms fell contempt the fund's success, what the ETF operation means for spot markets, and whether this pullback signals deeper issues oregon conscionable a impermanent setback.

The Canary XRP ETF, trading nether the XRPC ticker, is the archetypal U.S. spot ETF backed by XRP. It uses an in-kind instauration and redemption mechanism, which lets authorized participants deposit XRP with the money alternatively than cash. That reduces tracking mistake and attracts organization players.

On its November 13, 2025 motorboat day, investors poured astir $250 cardinal into the fund. ETF Institute president Nate Geraci pointed retired that the motorboat generated the highest day-one trading measurement among much than 900 ETFs introduced successful 2025. Bloomberg expert Eric Balchunas added connected X that the XRPC money logged $58 cardinal successful turnover, beating the debut volumes of Bitcoin and Ethereum ETFs earlier successful the year.

The inflow spot reflects pent-up request for regulated XRP exposure. Until 2025, U.S. investors could lone get indirect vulnerability done spot products oregon offshore vehicles. With the SEC suit against Ripple mostly wrapped up, the XRPC motorboat signaled renewed organization appetite.

Canary CEO Steven McClurg said successful August helium expects up to $5 cardinal to travel into XRP ETFs wrong their archetypal month. The ETF's in-kind mechanics besides encourages XRP holders to lend tokens directly, cutting down connected currency conversions and slippage. Against this backdrop, plentifulness of radical expected the spot terms to surge.