Key Notes
- The REX-Osprey XRP ETF launched with $37.7M in first-day trading volume.
- Despite the ETF hype, XRP price is flat around $3 support.
- Futures activity rose 120%, with open interest climbing to $8.94B post ETF debut.
The REX-Osprey XRP ETF (XRPR) exploded out of the gate with $37.7 million in trading volume on day one, making it the most successful ETF launch of 2025 so far.
Within just 90 minutes, the fund had already cleared $24 million in trades, catching even seasoned analysts off guard.
REX-Osprey XRP ETF (XRPR) closes its first day with a volume of $37.75Million — making it the number one best "day one" ETF by volume for all of 2025.
🔥😸 pic.twitter.com/nAwYuZoeu4
— Chad Steingraber (@ChadSteingraber) September 18, 2025
Bloomberg’s Eric Balchunas called the performance “remarkable,” placing it well above most new ETFs, which typically struggle to pass $1 million in volume on their first day.
My over/under got destroyed in the first hour of trading as $DOJE already posting nearly $6m in volume. That's shockingly solid.. Most ETFs trade under $1m on Day One. pic.twitter.com/7z22WIKPy0
— Eric Balchunas (@EricBalchunas) September 18, 2025
Yet, despite the ETF’s blockbuster debut, the XRP XRP $3.03 24h volatility: 2.7% Market cap: $181.28 B Vol. 24h: $5.20 B token lacked momentum. The token briefly rallied 4% to test resistance near $3.10, but quickly gave back gains, settling back around the $3 support level where it currently trades.
Why the Disconnect?
The launch generated plenty of excitement, especially among institutional players. Analysts were quick to highlight that XRP futures trading surged over 140% and open interest rose to $8.94 billion in the hours after the ETF’s debut.
But the spot market seemed hesitant with CoinMarketCap showing a 13% decline in trading volume in the last 24 hours while the token is down about 1% in the same time period.
Prominent analyst Zenia remains bullish, pointing to a potential bull flag breakout. In his view, the ETF debut provides structural support that could lift XRP toward $5 in the near term, with a longer-term goal as high as $15, potentially making XRP the next crypto to explode .
$XRP is showing signs of a bigger move.
A bull flag breakout already puts $5+ in play, while a larger pattern stretching back to 2024 hints at $15.
Add in the first US spot XRP ETF approval and new partnerships with DBS + Franklin Templeton, and momentum looks structural.… pic.twitter.com/jJbM6E38Wu
— Zenia (@Zenia_sol) September 18, 2025
XRP Price Analysis: What the Chart Says
Looking at the 3-hour chart, XRP is holding steady at $3.04, testing support right at the middle Bollinger Band. The recent pullback from $3.14 suggests buyers are cautious despite the ETF debut.
However, XRP remains inside a rising parallel channel, hinting at an ongoing bullish structure.
XRP price with momentum indicators | Source: TradingView
If XRP bounces here, a move back toward the upper channel resistance at $3.20–$3.25 looks likely. A decisive breakout above that could open the door to $3.50 and eventually the $5 target highlighted by analysts.
However, failure to hold the $3.00–$2.99 support zone could drag XRP lower toward $2.85, where stronger demand may reappear. Momentum indicators are cooling, suggesting the next few sessions will be critical.
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