Summary
- XRP (XRP) fell below $2.
- Despite the recent launch of a spot exchange-traded fund (ETF), trading volume was confirmed to be below expectations.
- Bitwise's XRP ETF trading volume being half that of last week's Canary Capital XRPC reportedly affected investor sentiment.
XRP has relinquished the $2 level. The recent launch of a spot exchange-traded fund (ETF) had raised market expectations, but investor sentiment appears to have frozen due to ETF trading volume being lower than expected.
On the 21st (Korean time), according to crypto market data provider CoinMarketCap, XRP was trading at $1.96 as of 3:32 PM, down 8.12% from the previous day.
Crypto-focused outlet CoinPedia analyzed that ETF weakness underlies XRP's downturn. Bitwise's XRP ETF, launched the day before, recorded first-day trading volume of approximately 1,127,647 shares ($25.93 million). This is half the first-day trading volume of Canary Capital's XRPC launched last week.
Uk Jin
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