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- Anjali Belgaumkar
Anjali Belgaumkar
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.
- Reviewed by:
Qadir AKQadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
- Sep 20, 2025 04:58 UTC
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Why Is XRP Price Dropping Despite Spot ETF Record on Day One?
XRP’s first U.S. spot ETF launch set a 2025 day-one trading volume record at $37.7M, but the token price fell amid heavy outflows.
Analysts cite $68.63M in outflows and Bitcoin’s recent decline as key reasons behind XRP’s drop despite the historic ETF debut.
XRP surprised the market this week by setting a new record with its first U.S. spot ETF launch, but the token’s price has still declined. As of today, XRP is trading at $2.99, down from recent highs, leaving many investors puzzled.
Spot XRP ETF Breaks Day-One Record
On its first day of trading, the $XRPR ETF recorded $37.7 million in volume, edging out $IVES to claim the biggest first-day natural trading volume of any ETF launched in 2025. Dogecoin’s new ETF ($DOJE) also impressed with $17 million, placing it in the top five launches out of 710 so far this year.
Analyst Zach Rector said the first Spot XRP ETF did set a record for day-one trading volume in 2025, but XRP has since faced three straight days of outflows totaling $68.63 million. He explained this is the main reason the price has fallen, moving in line with the rest of the market.
Why Did XRP’s Price Fall?
Despite the record debut, XRP has seen three straight days of outflows totaling $68.63 million. This selling pressure, combined with broader weakness across crypto, has weighed heavily on its price.
Attorney Bill Morgan explained it simply: “There is no mystery why XRP price is down the last 24 hours. Just playing follow the leader.” He pointed to Bitcoin’s recent slide as the key driver, saying XRP’s movements remain strongly correlated with the wider market, a point Ripple itself emphasized during its SEC lawsuit.
Technical Picture: Important Levels to Watch
For now, XRP is trading just below a critical resistance zone at $3.20. Analysts note:
- A break below $2.73 could confirm a bearish setup, with downside targets near $2.20.
- A sustained push above $3.20 may open the door for gains toward $3.40.
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FAQs
XRP’s price declined due to significant outflows totaling over $68 million. This selling pressure, combined with a broader downturn in the crypto market, led to the price drop.
A spot XRP ETF is an investment fund that directly holds XRP tokens, allowing investors to gain exposure to the cryptocurrency’s price movements without needing to own the tokens themselves.
Yes, XRP’s price movements are strongly correlated with the broader crypto market, particularly with Bitcoin. When Bitcoin’s price slides, other tokens like XRP often follow suit.
The record-breaking volume shows significant investor interest and demand for a regulated way to access XRP. However, it doesn’t guarantee a price increase, as market dynamics like outflows still apply.
Yes 
No 
