XRP’s Spot ETF Falls 20% Amid Price Stability and Market Competition

XRP's price has been trading sideways, affecting U.S. spot ETFs that provide exposure to the cryptocurrency. Canary Capital’s XRP fund has dropped 20% since its launch, despite being the largest by assets under management.

Impact on XRP Spot ETF

XRP price remains around $2, leading to bearish sentiment among investors.
Canary's XRPC fund saw a 20% decline since November 13 due to competition from newer funds.
The fund's inflows have slowed amid increased competition.
XRP mirrors Bitcoin's price trends, with concerns of a bear market.
Santiment data shows reduced whale activity in XRP transactions.

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Despite the downturn, XRP ETFs have recorded continuous daily net inflows for 16 consecutive days since the fund's launch, without any net outflow days.

ETF Market Overview

Canary’s XRP ETF holds $364 million in assets under management.
Grayscale’s GXRP follows with $211 million, while Bitwise and Franklin Templeton are third and fourth.
Total assets under management across these funds approach $1 billion, standing at $861 million.

Positive Developments for XRP

XRP exchange outflows exceed inflows, indicating long-term holding interest.
On-chain analytics show a decrease in large wallets but an increase in coins held, suggesting accumulation.

Currently, XRP trades at approximately $2.07, showing a slight increase over the past 24 hours.

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