XRP has settled at $2.15, but price movements are not the main reason.
In its latest post, the analytics platform outlined several digital assets that have captured the public’s attention for various reasons. In this article, we will focus on Ripple’s XRP and why it is becoming increasingly popular.
Why so trendy, XRP?
Perhaps the most notable development in the cryptocurrency market over the past week is the all-out correction that brought it to its knees, especially BTC, which fell to its lowest level in seven months. XRP has done quite well compared to the market leader, but is still down 10% weekly even though the price has calmed down around $2.15.
Naturally, such moves are always discussed among retail investors on social media, but the analytics platform says this is not the main culprit. Santiment data instead shows that the crowd has focused on the recent developments on the ETF front. It all started with the spot XRP ETF launched last week by Canary Capital, which became the first such financial vehicle with 100% exposure to the asset to hit the US markets.
“The texts highlight the launch of XRP-based ETFs, including Amplify’s first
Other reasons why Ripple’s token has been popular lately include discussions about its potential use in pension funds and as a settlement mechanism.
ETF update
As reported last week, Canary Capital’s XRPC cleared all hurdles after the Nasdaq published its official listing notice on November 12. A day later, the fund went live for trading and broke the 2025 record for trading volume, even surpassing Bitwise’s SOL debut.
SoSoValue data shows that the product has raised $277.82 million as of November 18. This means that actual net inflows have declined after the impressive launch. On day 1, XRPC attracted a whopping $243.05 million, followed by a more modest $25.41 million on the next trading day (November 17). While the data for November 18 hasn’t been updated yet, it will likely be a lot lower than opening day.
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