Overview
- Canary Capital’s spot XRP ETF (XRPC) debuted with $58.6 million in first-day volume and roughly $248–$250 million in early assets, signaling fresh institutional access.
- XRP fell 4.3% from $2.31 to $2.22 before a V-shaped intraday rebound, yet price remains capped by immediate resistance at $2.23–$2.24 within a broader bearish structure.
- On-chain activity spiked with 716 transactions over $1 million and reports of nearly 200 million XRP leaving whale addresses in 48 hours, including large transfers to exchanges.
- Derivatives stress compounded the slide with more than $1.2 billion in market liquidations and about $28 million tied to XRP, mostly wiping out long positions.
- Analysts highlight $2.07–$2.23 as key support and $2.23–$2.46 as resistance, as daily indicators flag lower highs and a death-cross backdrop despite short-term holder accumulation.