The first U.S. spot XRP exchange-traded fund has declined approximately 20% since its record-breaking debut in November.
Canary Capital's XRPC launched on November 13 with $59 million in first-day trading volume, the highest among more than 900 ETF debuts in 2025.
The fund closed its initial session with approximately $250 million in assets under management.
What Happened
XRPC traded at $22.45 on December 4, down from its 52-week high of ~$26.89.
The decline represents nearly 17% from peak levels reached shortly after the launch.
XRP itself traded at $2.03 as of December 7, struggling to hold the $2 psychological support level.
The token declined more than 7% over the past week.
Broader cryptocurrency market weakness contributed to selling pressure as investors shifted away from risk assets amid macroeconomic uncertainty.
Heavy profit-taking by large XRP holders after the ETF launch added additional downward pressure.
XRP dropped 5.2% to $2.30 on the ETF's debut day, despite the fund's strong performance.
The pattern mirrors "sell-the-news" reactions seen with previous cryptocurrency ETF launches.
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Why It Matters
XRPC's performance tracks XRP's broader volatility as the token faces technical breakdowns and reduced momentum.
XRP fell approximately 18% in November, breaking down from an ascending channel that existed since the start of 2025.
The token tested its $2 horizontal support zone multiple times in recent weeks.
Despite short-term price weakness, XRP ETFs collectively approached $1 billion in total inflows within the first month of trading.
Analysts suggest institutional demand could stabilize the fund if broader market conditions improve.
The ETF's creation structure slowed the translation of new investment into spot XRP purchases, delaying price support and creating a gap between expectations and market reality.
Volatility Shares and other issuers have filed for additional XRP-related products, indicating sustained institutional interest despite current price pressure.
Markets are bracing for a Federal Reserve rate decision next week, with analysts suggesting a dovish cut could push XRP back toward $2.20-$2.40 levels.
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