First US-Based XRP ETF Hits High Debut Trading Volumes

Highlights:

• The first US-based XRP ETF debuted with an impressive trading volume.
• XXRP recorded $5 million in trading volume on April 8.
• The ETF now ranks among the top 5% of new ETF launches.

On April 8, Eric Balchunas, a senior exchange-traded fund (ETF) analyst, reported that the first-ever US-based XRP ETF, the Teucrium 2X Long Daily XRP ETF (XXRP), began trading. The analyst noted that the ETF recorded $5 million in trading volume on its first trading day.

In his tweet, Balchunas described the debut as very respectable, especially considering the crypto market downturns. He said the ETF now ranks among the top 5% of new ETF launches. In addition, the analyst mentioned that XXRP outperformed Solana’s ETF (SOLT), recently launched by Volatility.

$XXRP (2x XRP ETF) saw $5mil in volume on Day One, very respectable, esp considering the mkt conditions. That puts it in approx top 5% of new ETF launches, and about 4x what the 2x Solana ETF $SOLT did (altho both 200x less than King IBIT). pic.twitter.com/u3QQq5yuHv

— Eric Balchunas (@EricBalchunas) April 8, 2025

Balchunas stated, “That puts it in approximately top 5% of new ETF launches, and about 4x what the 2x Solana ETF $SOLT did.” He added that despite XXRP’s impressive debut, its performance is still 200 times less than BlackRock Bitcoin ETF’s (IBIT).

Yesterday, Crypto2Community reported that Teucrium Investment Advisors launched XXRP on April 8. According to the publication, the ETF aims to double investors’ daily XRP returns. In addition, it trades on the NYSE Arca exchange after securing listing and registration approval.

Lawyer Predicts XRP Will Flip Ethereum by the End of 2025

Former United States Senate candidate and attorney John Deaton reacted to Balchunas’s post. In an April 8 tweet, the lawyer argued that despite the negative sentiment from industry leaders and crypto users, XRP has maintained a better appeal. “Just think, 75K XRP holders joined together to petition the Court in the Ripple case – extraordinary. In my opinion, XRP flips ETH by the end of the year,” Deaton added.

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. Just think, 75K XRP holders joined together to petition the Court in the Ripple case – extraordinary. IMO, XRP… https://t.co/ZPL8CKDrYR

— John E Deaton (@JohnEDeaton1) April 9, 2025

At the time of writing, XRP is down 8.6% in the past 24 hours, trading at approximately $1.78. In its 7-day-to-date price change variable, XRP saw a 15.9% decline, fluctuating between $1.65 and $2.17. Despite hitting over $3 in January this year, XRP’s long-term data indicated that the token has shed most of its earlier profits. For context, XRP dropped 27.8% 14-day-to-date and 18.6% month-to-date.

As a result of the declines, XRP’s market cap dropped to about $103.98 billion, with a fully diluted valuation of $178.4 billion. Its 24-hour trading volume depreciated by 19.52% to $7.46 billion. XRP ranks as the fourth most valuable cryptocurrency behind Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).

Like XRP, Ethereum has depreciated 8.3% in the past 24 hours, trading at about $1,450. Its market cap has dropped to about $175.397 billion, implying XRP’s market capitalization must increase by over $72 million to displace ETH as the second most valuable cryptocurrency.

XRP Addresses Reach All-Time High

In one of his most recent tweets, renowned crypto market chartist, Ali Martinez, noted that XRP’s network has grown stronger despite the market downturns. The expert said that the number of XRP addresses holding the token has reached an all-time high of 6.26 million.

Despite the recent volatility, the $XRP network is growing stronger! Now reaching an all-time high of 6.26 million addresses holding 1 #XRP or more. pic.twitter.com/Vavv9FkmuP

— Ali (@ali_charts) April 9, 2025

Martinez’s tweet suggests that despite negative sentiments and recent price declines, investors’ interest in the token has remained strong. XRP’s ability to facilitate cross-border payments has been the asset’s major selling point since its launch. Ripple, XRP’s parent company, continues to improve this utility.