XXRP ETF Launch Sees Strong Demand Despite Market Dip
Key Takeaways
On April 8, 2025, the 2x Long Daily XRP ETF (Ticker: XXRP) by Teucrium launched on the New York Stock Exchange. Despite a weak crypto market, the fund recorded a trading volume of USD 5.43 million on its first day. This makes the ETF one of the most successful debuts. Analysts see this as a strong signal of interest in XRP-based financial products, particularly in light of a potential spot ETF.
Strong Start Despite Weak Market
The launch timing of the XXRP ETF was unusual: the crypto market was in a downtrend. Bitcoin dropped to USD 78,000, and XRP fell to a five-month low of USD 1.61. Nevertheless, the fund showed resilience. On its first trading day, shares worth over USD 5 million changed hands.
The ETF is a so-called 2x Long Daily ETF. This means it seeks to replicate twice the daily price movement of XRP — in both directions. This allows investors to benefit from both rising and falling prices, provided they act on a short-term basis.
Analysts Praise the Launch
Eric Balchunas, ETF analyst at Bloomberg, called the trading volume “very respectable.” According to him, XXRP ranks among the top 5% of all ETF launches. For comparison: the 2x Solana ETF ($SOLT) achieved only a quarter of XXRP’s volume on its first day.
However, the gap to established products like BlackRock’s Bitcoin ETF remains large. Its launch was roughly 200 times bigger. Still, XXRP’s success shows growing interest in XRP-based products — even during challenging market phases.
Market Development and Technical Indicators
The day after the ETF launch, the crypto market saw a slight recovery. Total market capitalization rose by 5.67% to USD 2.59 trillion. Bitcoin gained nearly 6%, while XRP increased by 9.53% to USD 1.99.
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From a technical perspective, the situation remains tense. The Relative Strength Index (RSI) remains below the neutral range — a sign of continued selling pressure. At the same time, the Bollinger Bands suggest increased price volatility. This could present short-term opportunities.
Outlook: Spot ETF for XRP in the Works
Many market observers see XXRP as just the beginning. A potential spot ETF — a fund that directly holds XRP — could attract significantly more capital. According to data platform Polymarket, the probability of approval by the end of 2025 stands at 77%.
More than ten major asset managers, including Grayscale and Franklin Templeton, have submitted applications to the U.S. Securities and Exchange Commission (SEC). BlackRock has remained on the sidelines so far, giving other providers a chance to position themselves early.
Our Assessment
The successful launch of the XXRP ETF shows that despite a weak market environment, interest in XRP-based financial products is high. The ETF offers short-term-oriented investors a way to capitalize on XRP price movements — with increased risk but also increased leverage.
In the long term, a spot ETF for XRP could significantly reshape the market. The strong involvement of institutional providers indicates growing confidence in Ripple and its cryptocurrency. As an investor, it’s worth keeping a close eye on developments — especially if you’re interested in structured crypto products.
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