The debut of the first-ever XRP spot exchange-traded fund (ETF) on Nasdaq has ignited intense enthusiasm across the digital asset sector. Yet, contrary to widespread expectations of an immediate rally, XRP slipped roughly 8% following the launch, an unexpected move for investors anticipating a swift bullish breakout.
While the ETF’s inaugural trading session drew strong inflows, analysts noted that the capital was still insufficient to meaningfully influence a cryptocurrency boasting a market valuation exceeding $138 billion.
ETF Inflows Reach $245 Million on Launch Day
The XRP ETF had about $245 million in net inflows and about $60 million in trading volume on its listing date. These numbers represented a historic watershed in XRP investment products, exceeding the initial attention of the BlackRock IBIT and Bitwise BITB, according to market observer DrBullZeus.
The data is in: Canary’s #XRP ETF ($XRPC) recorded $245M net inflows day one.
That’s MORE than the debut of BlackRock’s IBIT ($111.7M) and Bitwise’s BITB ($237.9M).
The #XRP Army is for real, but this kind of capital is INSTITUTIONAL. Don’t look at the short-term price, look at… pic.twitter.com/i0vAaOTk9S
— DrBullZeus (@DrBullZeus) November 14, 2025
Nevertheless, even with the establishment of a new precedent in an XRP-based financial product, the inflow of capital was under 1 percent of the total market capitalization of the token, too small to move market forces.
When the hype faded, short-term investors chose to sell when profits were declining, which contributed to the decline of XRP even as the milestone ETF was being introduced.
Traders were hoping that tokens would fall off the open market directly into ETF inflows, and that the supply would be gone quickly.
Rather, the anticipated deficit did not occur. Analysts have also indicated that it would require much more inflows, possibly 10-15 times greater, comprising $3 billion to $5 billion, to create any meaningful upward pressure on the price of XRP.
Minimal Impact on Exchange-Traded XRP Supply
According to statistics from the largest exchanges, the number of XRP actively traded on exchanges is approximately 2.4 billion, valued at roughly $5 billion. In addition to tokens traded on exchanges, there is an estimated 5 billion to 12 billion of an estimated market in off-exchange over-the-counter (OTC) desks.
Institutional users typically turn to OTCs when they want to avoid the effect of price soaring into sudden spikes, often paying a premium of 5 to 15 percent. This strategy narrows down supply over time, and since the action takes place in non-public markets, it hardly ever has an immediate price action on an exchange chart.
Market Conditions and Price Forecast
XRP is being traded at $2.27, with a trading volume in the last 24 hours of $4.35 billion and a market value of $136.77 billion. Regardless of the overall exuberance of the ETF, XRP has fallen by 0.83 percent in the last day, according to CoinGecko data.
Nevertheless, the situation on the market is positive. According to a recent review on the XRP Avengers group, the token may be poised to undergo a heavy bull run in the near future, with possible levels between $10 to $30 in the next bull run.
The post also suggests that the successful expansion of the spot ETF will drive XRP to a much different valuation range of between $50-$150. The result of such a burst might be a period of consolidation between the $100-$500 range, which would provide a crucial timeframe during which market participants would be able to rethink their positioning and overall strategy.
As the market still needs to digest the launch of the ETF and track inflow trends, traders and analysts are closely watching for the next big trigger that may lead to XRP moving from anticipation into acceleration in the months to come.