The crypto market is witnessing a historic milestone. Canary Capital officially launched the first spot XRP ETF in the US under the ticker XRPC. The investment product attracted immediate institutional demand. This debut was recorded on November 13th, marking a new era for regulated exposure to the asset.
Bloomberg ETF analyst Eric Balchunas reported impressive data. The XRPC fund recorded $26 million in trading volume within its first 30 minutes. This performance positions it as one of the strongest ETF debuts of the year. Furthermore, Balchunas suggested that XRPC has the potential to surpass $BSOL’s $57 million record.
The XRPC is designed to offer direct exposure to XRP, the native token of the XRP Ledger. It facilitates institutional access to the network’s payment and liquidity protocols. Following the announcement, the price of XRP climbed 3% to reach $2.40. Daily trading volume also saw a notable 34% increase.
Is this the catalyst that will take XRP to new all-time highs?
Matt Hougan, CIO of Bitwise, applauded the launch. He called it a sign of evolving sentiment in the blockchain sector. Despite XRP’s polarized reputation, the asset maintains a loyal base of investors and developers. On the other hand, data from CryptoQuant revealed strategic positioning. “Whales” accumulated XRP before the official ETF announcement.
This “whales first, retail last” pattern often precedes increased volatility. With institutional capital entering, several market analysts are optimistic. They project that XRP could surpass $3.50 by the end of 2025. Likewise, an Elliott Wave technical analysis suggests a potential rally towards $5 by 2026, marking the beginning of a powerful impulse wave.
