XRP News Today: XRPC ETF Volume Shines on a Red Day for Crypto

Fed rate cut bets tumbled on Thursday, November 13, triggering a flight to safety, sending XRP and the broader market into the deep red. US President Trump signed a bill to reopen the government on Wednesday, November 12, shifting market focus to the Fed.

Growing concerns among FOMC members about elevated inflation have signaled a potential delay in further monetary policy easing. US tariffs have reportedly pushed import prices higher, fueling inflationary pressures amid a weakening labor market backdrop. Rising prices and weakening consumer spending raised the threat of stagflation, weighing on sentiment.

The risk-off sentiment overshadowed the highly anticipated launch of the Canary XRP ETF (XRPC), the first pure US XRP-spot ETF.

Canary XRP ETF Launch Triggers Institutional Demand

The Canary XRP ETF (XRPC) began trading, giving traders an early taste of institutional demand. Canary Capital reported net inflows of $245 million on day one.

The first pure US XRP-spot ETF launch didn’t disappoint, edging out the SOL-spot ETF’s first-day trading volume of $57 million.

Bloomberg Intelligence Senior ETF analyst Eric Balchunas commented on XRPC’s first day of trading, stating:

“Congrats to XRPC for $58m in Day One volume, the most of any ETF launched this year (out of 900), BARELY edging out BSOL’s $57m. The two of them are in league of own tho as 3rd place is over $20m away.”

Crucially, Canary XRP ETF reported impressive inflows and trading volume despite the market risk aversion impacting demand for crypto assets. Initial figures from Farside Investors showed BTC-spot and ETH-spot facing strong outflows as Fed rate cut jitters weighed on demand.

Bloomberg Intelligence ETF analyst James Seyffart commented:

“Looks like XRPC from Canary Funds has the largest day-1 trading volume so far for an ETF launch in 2025. Squeaks by BSOL’s ~$57 mln. Doing it on a down day like today is pretty impressive.

Day-One Hype or a BTC-Spot ETF Competitor?

Traders will now need to decide whether day-one trends stemmed from pent-up demand or whether XRP-spot ETFs are likely to meet lofty expectations.

Canary Capital CEO Steven McClurg recently upped his $5 million first-month inflow projection, stating:

“I may have been a little bearish. We’re going to hold to that number. If it hits that number, at least I’ll be right, and if it’s $10 billion, then I’m still right because we got at least $5 billion. If we saw that kind of inflow, I think it would definitely be in the top 20 ETFs of all time, if not in the top 10.”

While Canary Capital benefited from a first-to-market advantage, other XRP-spot ETF issuers may perform even better.

According to VettaFi, Franklin Templeton (#19), Bitwise (#56), CoinShares (#99), and WisdomTree (#179) rank above Canary Capital (#238) by assets under management. The rankings suggest XRPC’s inflows could be modest relative to Franklin Templeton and Bitwise in particular, painting a positive demand outlook.

The Bitwise and Franklin Templeton XRP-spot ETFs are expected to launch next week after the ETF issuers filed amended S-1 forms that removed the delaying amendment language.

Risk Assets Tumble as Fed Rate Cut Bets Slide

While XRPC’s day-one of trading impressed market analysts, fading bets of a December Fed rate cut weighed on sentiment.

According to the CME FedWatch Tool, the chances of a December rate cut dropped from 62.9% on Wednesday, November 12, to 50.7% on Thursday, November 13. Risk aversion weighed on institutional appetite for global-listed stocks, BTC-spot, ETH-spot ETFs, and cryptos.

The Nasdaq Composite Index slid 2.34% on Thursday, November 13. Meanwhile, BTC-spot and ETH-spot ETF issuers reported net outflows of $459.4 million and $103.7 million, respectively. These outflows underscored the significance of Thursday’s XRPC launch and reported inflows.

Considering XRPC’s first day of trading, XRP could reverse Thursday’s losses if inflows remain robust on day two.

Technical Outlook: Key XRP Price Levels

XRP slid 2.69% on Thursday, November 13, following the previous day’s 0.2% loss, closing at $2.3230. The token tracked the broader crypto market, which dropped 2.34%.

Three consecutive days of losses left XRP trading well below the 50-day and 200-day Exponential Moving Averages (EMAs), indicating bearish momentum.

However, several scenarios could trigger a trend reversal, potentially sending XRP through $3.

Key technical levels to watch include:

• Support levels: $2.2, $2.0, and $1.9.
• 50-day EMA resistance: $2.5340.
• 200-day EMA resistance: $2.5760.
• Resistance levels: $2.35, $2.5, $2.62, $2.8, $3.0, and $3.66.

Catalysts to Watch in the Sessions Ahead

In the near term, several key events could influence price trends:

• XRP-spot ETFs (delays or launches) and BlackRock’s stance on an iShares XRP Trust.
• Blue-chip companies’ position on XRP as a treasury reserve asset.
• Regulatory milestones: Ripple’s application for a US-chartered bank license, the Market Structure Bill.
• SWIFT-related developments.

Bearish Scenario: Risks Below $2.2

• US data and Fed speakers dampen Fed rate cut bets.
• BlackRock dismisses plans for an XRP-spot ETF.
• SEC queries S-1 amendments, delaying the launches for XRP-spot ETFs.
• The US Senate roadblocks crypto-friendly legislation, including the Market Structure Bill.
• Blue-chip companies downplay interest in XRP as a treasury reserve asset.
• OCC delays or rejects Ripple’s US-chartered bank license.
• SWIFT maintains its market share in the global remittance sector, limiting Ripple’s market access.

These bearish events could push XRP toward $2.2, exposing the lower trendline. If breached, $2 would be the next key support level.

The descending channel showed XRP failed to break above the upper trendline in early October. The failed breakouts led to lower highs and lower lows, a bearish indicator. Buyer demand at the lower trendline will be critical; a drop below the lower trendline could pave the way toward the $2 psychological support. See the chart below for reference.

Bullish Scenario: Path to $3 Remains Challenging

• US economic data and Fed speakers signal a December rate cut.
• BlackRock files an S-1 for an iShares XRP Trust and XRP-spot ETFs launch.
• Blue-chip companies increase XRP holdings for treasury reserve purposes, and Main Street firms integrate Ripple technology.
• Ripple secures a US-chartered bank license, and the US Senate passes the Market Structure Bill.

A break above the $2.35 resistance level could open the door to retesting $2.5. A sustained move through $2.5 would bring the 50-day and 200-day EMAs into play. A breakout above the EMAs could pave the way toward the $2.62 resistance level, with the upper trendline the next key resistance level.

Outlook: Near-Term Structure Turning Bearish

Shifting bets on a December Fed rate cut could leave XRP under selling pressure. However, softer US inflation data and dovish Fed rhetoric could change the narrative.

Rising bets on a December Fed rate cut and strong XRP-spot ETF inflows would likely send the token toward $3.

Meanwhile, traders should also monitor the Market Structure Bill’s progress on Capitol Hill, another focal point.

The next 24 hours could dictate whether XRP finally breaks free from Bitcoin’s shadow.