XRP News Today: XRP ETFs' Mixed Debut: Institutional Hype vs. Market Volatility

XRP's Next Big Move: Why Wave 3 Could Lead to Major Gains

The XRP market is entering a pivotal phase as multiple institutional-grade exchange-traded funds (ETFs) launch in rapid succession, signaling growing confidence in the cryptocurrency's utility and regulatory clarity. Grayscale Investments confirmed the November 24 debut of its XRP ETF (ticker: GXRP), following regulatory filings that converted its existing XRP Trust into a publicly traded fund. Franklin Templeton and Bitwise Asset Management are also set to launch competing XRP ETFs this week, with the latter waiving its 0.34% management fee for the first month on the first $500 million in assets. These developments mark the third wave of XRP ETFs in the U.S., building on nine approved products in October 2025.

The market's reaction, however, has been mixed. XRP's price dipped 7% below $2 on November 20, the same day Bitwise's ETF began trading on the NYSE. The decline coincided with whale selling of 200 million XRP tokens and a drop in profitability to its lowest level since late 2024. Despite this, Bitwise's ETF attracted $22 million in trading volume within three hours of its debut, outpacing the $58 million first-day inflow of the Canary XRP ETF (XRPC) in early November. Analysts attribute the volatility to broader crypto market pressures, including Bitcoin's pullback below $86,000, which triggered over $220 million in liquidations.

Regulatory milestones have paved the way for this ETF surge. Ripple's 2023 legal victory over the SEC cleared the path for XRP products, while recent approvals of spot Bitcoin and Ethereum ETFs demonstrated growing institutional acceptance of crypto assets. Grayscale's XRP ETF, which holds 6 million tokens in a Coinbase-secured trust, waives its standard 0.35% fee for three months or until assets reach $1 billion. Franklin Templeton's XRPZ ETF, meanwhile, offers the lowest fee at 0.19%, with full waivers on the first $5 billion in assets until May 2026.

Market participants are closely watching the impact of these ETFs on XRP's liquidity and price stability. The XRP Ledger, which processes over four billion transactions and settles payments in 3–5 seconds, has attracted institutional interest for its efficiency and role in tokenizing assets like U.S. Treasuries. Ripple CEO Brad Garlinghouse described the pre-Thanksgiving launch window as a "turkey trot" for XRP ETFs, emphasizing the asset's growing appeal among traditional finance players.

Technical indicators also suggest potential for a rebound. XRP has tested key support levels around $2, historically a precursor to bullish rallies in 2017 and 2021. Institutional inflows of $15.8 million into XRP ETFs in recent weeks, coupled with a 26% surge in 24-hour trading volume to $6.12 billion, highlight continued demand. However, analysts caution that meaningful institutional adoption may take until 2026, as pension funds and advisors integrate XRP into diversified portfolios.

The coming months will test whether the XRP ETF wave can overcome short-term volatility and whale-driven selling. For now, the synchronized launches by Grayscale, Franklin Templeton, Bitwise, and 21Shares underscore XRP's evolving role in the crypto ecosystem, even as market dynamics remain complex and unpredictable.