The XRP ETF by Canary was expected to trade at an average value but instead commenced with a large opening volume of $58 million, with the new XRPC fund.
The launch was the largest ever launch record in the history of Bitwise Solana staking ETF and attracted quick attention. In spite of the positive beginning, XRP itself did not respond as the token was burdened by the losses of the rest of the crypto market.
XRP ETF by canary record debut
The Canary Capital spot XRP ETF became operational in Nasdaq at 5:30 PM ET on November 12, 2025. The Barchart data indicate that the fund ran at the end of the first trading day at 24.55 and dropped by 7.8%. The overall market slide of the cryptocurrency was a definite factor and it caused a 3.5% drop in the total crypto market cap to $3.43 trillion.
The demand was quick when ETF analyst Eric Balchunas observed the demand of the fund after it had surpassed 26 million in trading in the first half an hour of trading. He had previously anticipated a ceiling of 17 million. The powerful response put the XRPC launch as the leading ETF launch of 2025. The early interest was driven by a long time record of popularity among retail holders of XRP, industry analysts said.
The analysts point at retail strength and institutional changes
Presto Senior Analyst Min Jung identified the legacy of the XRP Army. He told me retail fans are known to be very active in the release of new products. Jung provided as an appendix that professional traders, who once were cautious, would find it more comfortable to access XRP via regulated products. He claimed that during the debut, there was a combination of organic purchase, liquidity management and short term premium trade around the spot market.
NOBI CEO Lawrence Samantha stated that long-term inflows would give a better indication of long-term institutional trust. She also noted that XRPC will be under pressure to deliver to the expectations of a community when it is established among the competitive ETFs.
XRP bitcoin declines with ETF milestone
XRP was not picking up pace despite the ETF attracting outstanding attention. According to the CoinGecko, XRP dropped 7.8% over the last day and was trading at $2.30 following a short-lasting hourly increment. The token has increased by 3.5% in the last one week as compared to a decrease of 7.2% in the last two weeks. Access to XRP also recorded a loss of 8 percent in the last month even though a steep rise of 230.7% has been recorded in the last one year.
Analysis on CoinMarketCap recorded that even wider altcoin weakness pressure. Other currencies like ADA and SOL dropped more than 8 percent in the day. The balance sheet was high and the sentiment was low leading to additional selling where the open interest of $840 billion was hit. The volume of trading increased by 32.7% to $7.7 billion, indicating that there was panic selling. Analysts indicated that XRP became bearish when it fell below 50-day EMA as well as the major Fibonacci at 2.31. The RSI of 44.5 indicated a slowing down momentum.
The XRP ETF issued by Canary recorded one of the best launches of the year, thanks to retail interest and new institutional access. Nevertheless, the price of XRP did not soar because the market factors dominated over the launch of the fund. Whether or not inflows into XRPC can turn the opinion about XRP will be revealed in the coming days.
