XRP ETF Debuts Strong with $5M Volume, Ranks in Top 5% of New Launches

The Teucrium 2x Long Daily XRP ETF (XXRP) recorded an impressive $5 million in trading volume on its launch day, placing it in the top 5% of new ETF launches, according to Bloomberg senior ETF analyst Eric Balchunas. The leveraged XRP ETF, which offers 2x exposure through swaps, is designed for short-term speculation and volatility trading.

Balchunas described XXRP's debut as "very respectable," especially compared to other recent crypto ETFs. Notably, it outperformed the recently launched leveraged Solana ETF from Volatility Shares. The strong market reception signals growing investor interest in XRP despite skepticism from within the crypto space.

Pro-XRP lawyer and former Senate candidate John Deaton weighed in on X (formerly Twitter), stating, “Despite all the negative sentiment from people within the crypto industry, I’ve always maintained that XRP has much more appeal than industry players want to admit.”

The ETF launch comes shortly after Ripple's major acquisition announcement, which has yet to positively impact XRP’s market price. Over the past 24 hours, XRP has dropped more than 5%, continuing a broader downtrend amid volatile market conditions.

The first U.S.-based XRP ETF marks a significant milestone for the Ripple ecosystem, offering institutional and retail investors a new vehicle to gain leveraged exposure to XRP’s price movements. Despite the price dip, the ETF’s successful debut could indicate a shift in market sentiment and renewed confidence in XRP as a tradable asset.

As crypto ETFs gain traction, XXRP's performance may influence the development of more Ripple-backed financial products in the U.S. market, strengthening XRP's presence in traditional finance.