Canary Capital XRP ETF Soars Past $46 Million on Debut, Despite Price Dip

Thursday Nov 13 2025 21:50

Duration

2 min

  1. 1. Canary Capital XRP ETF's Day One Performance

  2. 1.1 Trading Volume and Analysis

  3. 1.2 Prior Expectations and Upside Potential

  4. 1.3 XRP Price Movements

  5. 1.4 Future Analyst Projections

Canary Capital XRP ETF's Day One Performance

The Canary Capital XRP (XRPC) exchange-traded fund, which tracks the spot price of XRP, experienced a robust debut, amassing over $46 million in its initial hours despite a minor price retraction in XRP itself.

Trading Volume and Analysis

According to Eric Balchunas, senior Bloomberg ETF analyst, XRPC recorded $26 million in trading volume within the first 30 minutes of its launch. James Seyffart, also a Bloomberg ETF analyst, added: "With 2.5 hours left in the trading day, Canary Capital’s XRPC is already over $46 million in day one trading. This is almost guaranteed to be near the top of the list for 2025 launches and still has a shot at beating Bitwise’s Solana ETF (BSOL) for the top spot."

Prior Expectations and Upside Potential

The highly anticipated ETF has been on analysts' radar since 2024, with the odds of an XRP investment vehicle surging following the potential reelection of a pro-crypto US President and the ensuing pro-crypto regulatory shift. Crypto investors generally perceive ETFs as bullish catalysts for the underlying assets they hold, as these investment vehicles channel funds from traditional financial markets into the crypto ecosystem. Despite this, XRP's price experienced a marginal decline following the Canary ETF's debut.

XRP Price Movements

The price of XRP decreased by 2.7% over the preceding 24 hours, fluctuating from a high of approximately $2.50 to $2.28. The price is currently hovering slightly above its 365-day moving average, a key dynamic support level. XRPC witnessed a corresponding 8% retraction from an intraday peak of nearly $27 to approximately $24.50 on its launch day, as reported by Yahoo Finance.

Future Analyst Projections

In January, market analysts projected that XRP could potentially reach a price target exceeding $10 following the approval of an XRP ETF in the United States. Analysts at financial services powerhouse JPMorgan Chase also forecasted that an XRP ETF could attract as much as $8 billion in capital inflows. The most recent analyst projections anticipate a potential XRP rally to $5 by the culmination of 2025, fueled by the ETF's launch and the US government's eventual resolution of its shutdown.

Risk Warning: This article is provided for informational purposes only and does not constitute investment advice, investment research, or a recommendation to trade. The views expressed are those of the author and do not necessarily reflect the position of Markets.com. When considering shares, indices, forex (foreign exchange), and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and may not be suitable for all investors. Leveraged products can result in capital loss. Past performance is not indicative of future results. Before trading, ensure you fully understand the risks involved and consider your investment objectives and level of experience. Cryptocurrency CFD trading restrictions may apply depending on jurisdiction.

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Written by:

Sophia Claire

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