Canary Capital’s XRPC, the first US spot exchange-traded fund offering direct exposure to XRP, debuted with $58 million in trading volume, outperforming other ETF launches this year. The surge signals increasing institutional demand for regulated altcoin access, despite XRP’s price showing little immediate reaction. XRPC and Bitwise’s Solana ETF lead the 2025 class, with XRP’s role in cross-border payments driving institutional interest.

The launch of Canary Capital’s XRPC ETF recorded the strongest debut of any ETF this year, surpassing 900 new funds. XRPC narrowly beat Bitwise’s Solana ETF in first-day trading volume, signaling early-stage investor interest in crypto-linked products. XRP’s strong use-case narratives and ecosystem contribute to institutional appetite for regulated altcoin exposure.

Despite the XRPC ETF’s strong debut, XRP experienced a sharp 7.3% drop below the $2.30 support level during a volatile session. The decline saw 157.9 million XRP traded in a $0.23 range, with a four-minute liquidation wave causing a price plunge. Market analysts predict XRP could reach $5 by 2026 with sustained institutional inflows.

An Elliott Wave analysis of XRP/USD suggests the cryptocurrency is in the early stages of a powerful Wave 3 rally, potentially reaching $5-6. Key Fibonacci extension levels indicate targets around $3.50 and $5.50, with a potential gain of over 150% from current levels. The analysis points to a bullish scenario for XRP’s price trajectory.

Read more at Yahoo Finance: First US Spot XRP ETF Debuts With $58M Volume, Year’s Best Launch