XRP Price Prediction As First-ever Spot XRP ETF Records $26 Million in Early Trading Volume
The XRP token traded within a narrow range, gaining 3.6% but falling short of a major rally. Canary Capital’s Spot XRP ETF (XRPC), the first U.S. Spot XRP ETF, launched with strong results, recording $26 million in the first 30 minutes, exceeding expectations and potentially setting a record for a Day One ETF launch. The ETF is available on Robinhood and Nasdaq, offering exposure to XRP's role in cross-border payments and liquidity. Analysts predict strong first-day trading volumes, with forecasts up to $34 million, as investors compare its performance to previous Bitcoin and Ethereum ETFs. Although XRP's price remains stable above $2.32, it faces resistance at $2.84, needing to break this level to trigger significant upward momentum toward $5 in the coming months.
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XRP Price Movement in the Past 24 Hours
XRP traded between $2.32 and $2.52 in the past 24 hours, gaining around 3.6%, but failed to deliver the big rally many traders were hoping for. The slow price movement coincided with the launch of Canary Capital's new XRPC fund, marking the first-ever U.S. Spot XRP ETF.
Strong Debut for XRPC ETF
The launch of Canary Capital’s Spot XRP ETF (XRPC) made an immediate impact. Within the first 30 minutes of trading, XRPC recorded $26 million in volume, far exceeding analyst expectations.
Eric Balchunas, a Bloomberg analyst, initially forecasted $17 million in volume but reacted by tweeting: "Wow, gonna blow away my $17m guess."
He added that XRPC has a strong shot at surpassing $BSOL's $57 million as the biggest Day One ETF launch of the year.
Features of the XRPC ETF
The ETF is now live on Robinhood and Nasdaq, providing traditional investors with direct exposure to XRP Ledger's native token. According to Canary Capital, XRPC reflects the XRP network’s performance across global payment and liquidity systems, emphasizing its:
- Speed
- Scalability
- Proven cross-border utility
These attributes highlight XRP's role in distributed finance.
Analyst Predictions for Full-Day Volume
Analysts are split on their full-day volume forecasts for the XRPC ETF:
- James Seyffart from Bloomberg predicted up to $34 million in total volume.
- Eric Balchunas suggested that the volume could exceed this estimate, potentially outperforming earlier Bitcoin and Ethereum ETFs, which saw strong institutional inflows.
Support Levels and Current Price Activity
XRP is holding steady above the $1.21 support level, despite its slow price movement. Recently, XRP touched the $1.75 to $2.17 zone before bouncing slightly, indicating that buyers remain active.
If XRP breaks above $2.84, it could potentially start moving toward $5 in the coming months.
Resistance Levels to Watch
Currently, XRP faces resistance between $2.69 and $2.84. The price needs to break above this range to initiate a stronger upward trend. Until then, it is expected to remain relatively flat.