🪙 The first US spot ETF $XRP ETF has fallen more than 20%

The first US spot XRP ETF (ETF) has dropped over 20% from its post-launch peak, despite strong initial institutional demand.
In this context, the XRP Canary ETF, traded on Nasdaq under the ticker XRPC, closed the last session at $20.26, down about 23.9% from the launch price.
Interestingly, this ETF surged to the mid-$26 range after launch before reversing lower. At the same time, XRPC has declined about 8.5% in the latest session and fallen more than 10% over the past five trading days.
Although the ETF remains slightly positive over one month, rising around 1.5%, the fund has repeatedly failed to sustain a rebound. Its performance this year has been almost flat overall, masking sharp declines from the launch peak.
This weakness contrasts with a strong ETF debut. The Canary fund made history as the first US spot XRP ETF, offering regulated exposure to XRP without direct token ownership, and attracted significant early trading volume amid pent-up demand after years of regulatory uncertainty.
Initial institutional flows initially boosted optimism, with the XRP spot ETF absorbing around $483 million dollars in December 2025 despite Bitcoin and Ethereum ETFs experiencing outflows, pushing total assets to about $1.3 billion within a few weeks.
However, the chart performance highlights an increasing gap between inflows and price resilience.
After reaching a peak shortly after launch, XRPC slid into a volatile but steady decline, indicating that ETF demand has not been enough to offset weakness in the underlying XRP market and changing risk appetite. The last session also showed investor rebalancing after a prolonged inflow period.
Indeed, the ETF's performance comes as XRP shows weakness in line with broader cryptocurrency market sentiment, with this asset falling below the $2 support zone.