A recent update from Apex Crypto Insights has set the XRP community abuzz, with the expert predicting a “potential XRP volume tsunami” ahead. According to the report, the debut performance of the Canary XRP ETF has exceeded all expectations. Despite managing just $100 million in assets under management (AUM), the fund generated a remarkable $58 million in volume on its first day of trading.
This is notable because it closely rivaled the performance of Bitwise’s Solana ETF, which launched with $5 billion in AUM and saw $57 million in volume. This unexpected success has many questioning whether XRP is currently undervalued, with some estimates suggesting it could be 25 to 50 times more valuable than its current price.
The expert further pointed out that this strong debut is just the beginning, signaling that the XRP ETF market may be on the cusp of a significant surge. With the current volume showing such promise, many believe the market is primed for a much larger wave of activity.
Institutional Interest Heightens Potential for a Surge in XRP
In addition to the impressive start by Canary, the interest from major institutional players is intensifying. According to Apex Crypto Insights, over six major firms, including Bitwise, Grayscale, and Franklin Templeton, have already filed for XRP ETFs, with a combined $1.67 trillion in assets under management (AUM).
This, coupled with BlackRock’s involvement, which controls a further $13 trillion in assets, creates the potential for an XRP volume surge like never before. These institutions collectively hold up to 160,000 times more assets than the Canary ETF, indicating that the upcoming wave of investment could propel XRP to new heights.
This massive institutional interest suggests that the XRP market is poised for a substantial increase in trading volume and price. If these predictions hold, the market could experience a significant transformation, making the future of XRP one to monitor closely.