tl;dr
The XRP ETF, *XRPP*, launched with record-breaking volume, surging fivefold in 90 minutes, reflecting institutional interest. However, XRP's spot price fell 1% despite the ETF's success. Bearish indicators, including a long/short ratio of 0.84 and declining Chaikin Money Flow, suggest short-term ske...
**XRP ETF Breaks Records, But XRP Price Stumbles: A Tale of Two Trends**
The cryptocurrency world watched closely as REX-Osprey’s XRP exchange-traded fund (ETF), *XRPP*, launched yesterday with a bang. In just 90 minutes, the ETF’s trading volume surged fivefold compared to earlier XRP-based futures contracts, a testament to its immediate appeal. This historic debut shattered previous records for XRP-linked products, signaling a surge in institutional interest. Yet, despite this milestone, XRP’s spot price remains stubbornly flat, slipping 1% in 24 hours while the broader crypto market rallies. The divergence raises a critical question: Why isn’t XRP sharing the ETF’s success?
### The ETF’s Triumph, XRP’s Silence
The XRPP ETF’s rapid ascent has been nothing short of explosive. Institutional investors, long wary of XRP’s legal uncertainties and volatility, appear to be warming to the asset through this structured product. However, the spot market tells a different story. XRP’s price has remained stagnant, failing to capitalize on the ETF’s momentum. This disconnect suggests that while demand for XRP-focused investment vehicles is growing, short-term traders remain cautious—or even bearish.
### Bearish Sentiment Lingers
Key indicators paint a grim picture. The *long/short ratio* for XRP futures has plummeted to a 30-day low of 0.84, meaning short positions now outweigh longs. This metric, which compares the volume of bullish versus bearish bets, reveals a growing appetite for downside bets. Even as the ETF gains traction, derivatives traders are betting on further declines.
Compounding this is the *Chaikin Money Flow (CMF)*, a volume-weighted indicator that tracks buying and selling pressure. XRP’s CMF is trending downward and poised to cross below zero, signaling a shift in liquidity. Despite the ETF’s institutional backing, spot market participants are quietly withdrawing support, pushing the token into a precarious position.
### XRP at a Crossroads: $2.87 or $3.22?
The immediate future of XRP hinges on a critical juncture. If current bearish momentum persists, the token could dip to $2.87, testing its support levels. However, a sudden influx of demand—whether from renewed institutional interest or broader market optimism—could propel XRP to $3.22.
This duality underscores the tension between long-term potential and short-term skepticism. The ETF’s success proves that XRP is no longer a fringe asset, but its price remains tethered to the whims of traders who fear a repeat of past volatility.
### What’s Next for XRP?
For now, XRP’s path is unclear. The ETF has opened a new chapter for XRP investment, but the spot market’s reluctance to follow suggests that trust is still a work in progress. As the crypto world watches, one thing is certain: XRP’s story is far from over.
*For deeper insights into token trends and market analysis, sign up for Editor Harsh Notariya’s Daily Crypto Newsletter.*