CanaryFunds’ XRP ETF Leads 2025 Launches With $58.5M Opening Day Volume
- CanaryFunds’ XRP ETF opened with approximately $58.5 million in day-one trading activity.
- XRP price reversal from the $2.5 resistance signals the potential downturn of 17.5% to rest on the channel support.
- The coin price faces dynamic resistance from the 20-day exponential moving average.
On Thursday, November 13th, the crypto market witnessed a sharp sell-off, which pushed the Bitcoin price below the $100,000 psychological support. The bearish momentum can be attributed to macroeconomic uncertainty, especially the delayed U.S. consumer price index (CPI) data release amid the recent U.S. government shutdown. The absence of this data left the market in limbo with no clear sign of the inflation trend.
This jitter is layered onto the existing concern about the Fed’s hawkish tone for the December rate cut decision. As a result, the majority of major altcoins, including XRP, witnessed a prolonged correction this week
Despite the risk of prolonged correction, investors’ interest remains high for Ripple cryptocurrency, as its first pure spot XRP ETF witnessed significant inflow.
CanaryFunds’ XRP ETF Tops All 2025 Debuts in First-Day Trading
Canary Fund’s spot XRP ETF (XRPC) market debut attracted a heavy spate of trading that concluded its first session with roughly $58.5 million in turnover.
Bloomberg analysts Eric Balchunas and James Seyffart said this put the product at the top of all ETF launches in 2025 to date. Its closest rival, the BSOL fund, opened in late October and saw about $57 million in day-one activity, leaving the two clustered well ahead of the rest of this year’s newcomers.
The next-strongest debut is more than $20 million lower than their levels, leaving a rather large gap between the top two and the rest of the crowded field of recent launches.
XRPC also reported an estimated $245 million in net inflows, suggesting that the influx of new capital into the fund was not often seen in first-day trading for crypto-linked products. Participation was from both institutional desks that track single-asset ETFs and active retail traders who usually gravitate toward high-volume opens.
XRP Price Faces Downside Risk of 17% Amid Channel Formation
Over the past three days, the XRP price showcased a sharp reversal from $2.57 resistance to its current trading price of $2.3, accounting for a 10% gain. The selling pressure aligns with the broader market pullback as Bitcoin dives below the $100K psychological level.
However, a deeper analysis of the daily chart shows this correction follows the trend of a falling channel pattern. Since late July 2025, the coin price has strictly resonated between the two parallel trendlines of the pattern, offering dynamic resistance and support to crypto-traders.
As market correction persists, the XRP price could extend its correction another 17% to test the pattern’s bottom trendline at $1.92. Supporting the bearish narrative, the exponential moving averages 20, 50, 100, and 200 are in a declining slope, indicating the path of least resistance is down.
On the contrary, if crypto buyers manage to defend the $2 support, the XRP price could rebound higher and challenge the pattern’s resistance trendline around the $2.5 mark. A potential breakout would accelerate the bullish momentum and signal the continuation of a recovery momentum.
Also Read: What Scotland’s ‘Kilt Bonds’ Mean for Investors and its Global Profile?
