XRP News Today: XRP ETF Debuts Strong as Price Plummets Amid Whale Sales and Market Volatility

The Bitwise XRP ETF (ticker: XRP) made a strong debut on the New York Stock Exchange, generating nearly $22 million in trading volume on its first day, according to data from the exchange. The fund, which holds spot XRP in custody with Coinbase, marks a significant milestone for U.S. investors seeking exposure to the third-largest cryptocurrency by market capitalization. Despite the ETF's robust performance, XRP's price dropped approximately 7% to $1.92 amid broader market volatility and whale selling, highlighting the complex dynamics shaping the token's trajectory.

XRP's market capitalization currently stands at $127 billion, with the XRP Ledger having processed over 4 billion transactions since its inception. The blockchain's average settlement time of 3–5 seconds and its focus on cross-border payments—a market projected to reach $250 trillion by 2027—positions it as a key player in the evolving digital financial ecosystem. Bitwise Chief Investment Officer Matt Hougan described XRP as "an intriguing asset" with a 13-year track record of low-cost, high-volume transactions and a "strong and vibrant community" according to the report.

The ETF's structure is physically backed, with XRP tokens held in a custodial trust, and it benchmarks its net asset value against the CME CF XRP-Dollar Reference Rate-New York Variant. Bitwise is waiving its 0.34% management fee for the first month on the first $500 million in assets to attract early investors. The fund's launch follows months of regulatory progress, including the enactment of the GENIUS Act in July 2025, which provided clarity on the regulatory status of payment-focused digital assets.

However, the ETF's launch coincided with a sharp sell-off in the broader crypto market. Bitcoin's decline below $86,000 triggered over $220 million in long liquidations, dragging XRP lower. On-chain data revealed that 200 million XRP tokens were sold by whale wallets within 48 hours of the ETF's debut, exacerbating downward pressure on the token's price. Additionally, the share of XRP supply held in profit fell to 58.5%, the lowest level since November 2024, signaling structural fragility in the market.

The ETF's ticker symbol, "XRP," has sparked debate within the crypto community. Critics argue that using the same ticker for both the ETF and the underlying asset could confuse traders and complicate data interpretation on platforms. Developer Vincent Van Code, however, suggested that the move could eventually separate retail trading from native XRP, with the ETF catering to retail investors while institutional activity remains on-chain according to developer analysis.

Bitwise's XRP ETF is part of a broader wave of U.S. spot XRP ETFs expected to launch in late 2025. Franklin Templeton, Grayscale, and 21Shares are among the firms set to introduce their products in the coming weeks, with industry estimates projecting $5–8 billion in combined inflows by year-end according to market analysis. Canary Capital's XRPC ETF, which debuted on November 13, remains the top-performing ETF of the year, with $58 million in first-day volume.

The Bitwise XRP ETF's performance underscores the growing institutional interest in XRP, even as short-term price movements remain influenced by macroeconomic factors and market sentiment. Analysts caution that meaningful institutional adoption may take until 2026, as advisors and pension funds integrate XRP exposure into their portfolios. For now, the ETF's success will depend on balancing regulatory confidence, market liquidity, and the volatile nature of the crypto asset it tracks.