The first spot XRP exchange-traded fund has lost more than half its value since launching, erasing gains for early investors as the token's price declined from above $2.50 to near $1.14. The 54.3% drop highlights the risks of single-asset crypto ETFs beyond bitcoin and ether.
The first spot XRP exchange-traded fund lost 54.3% since its launch, turning a $1,000 investment into about $457 as XRP trades near $1.14.
The fund, which began trading earlier this year, has tracked XRP's decline from levels above $2.50 at launch to current prices near $1.14, according to the fund's net asset value data. XRP fell 22% in the 30 days through June 30, with June historically the token's worst month — a median decline of 8.8% going back to 2014, CoinGecko data show. July, by contrast, has been XRP's best month, with six of the last 10 Julys closing in the green and a median gain of 10.8%.
The ETF's 54.3% decline mirrors a broader downturn across crypto investment products. Bitcoin has held above $63,000 after recovering late-June losses, while Ether rose 12% over the past week to about $1,777. XRP traded at $1.14, up 9.4% over seven days, as the token attempts a rounded-bottom reversal on the four-hour chart. The relative strength index climbed to 64, showing improving buying pressure without overbought conditions, while volume expanded during the latest push, per CoinGecko and technical analysis. On-chain data show XRP recovering from a late-June base near $1.01 after several failed breakdown attempts below the $1.04-$1.06 area.
The slump raises questions about demand for single-asset crypto ETFs beyond bitcoin and ether, which have drawn the bulk of institutional flows. The Clarity Act, a bill that would codify XRP's classification as a commodity, cleared the US Senate Banking Committee in May and sits on the Senate calendar with an August recess deadline, though passage is not guaranteed. A favorable ruling could open the door for financial institutions that currently cannot hold unclassified digital assets, potentially driving fresh demand for the token and its related investment products. For now, the macro backdrop remains mixed — a softer dollar and expectations of Federal Reserve rate cuts have supported risk assets, but persistent ETF outflows and higher bond yields continue to compete with crypto for institutional capital.
This article is for informational purposes only and does not constitute investment advice.
