XRP Price Falls 8% as Canary XRP ETF Sets Record ETF Debut

XRP price slipped 8% over the past 24 hours to trade at $2.29 as of 3:35 a.m. EST, on a 32% increase in trading volume to $7.7 billion.

This comes even after the Canary XRP ETF (XRPC) recorded $58 million in trading volume on its first day, beating all other ETF launches this year. This surpassed the previous best trading volume of $57 million recorded by Bitwise Solana Staking ETF (BSOL).

XRPC also attracted $245 million in inflows on its first day, with Canary Capital CEO Steven McClurg suggesting the reason for the high inflows was pent-up demand to gain regulated exposure to XRP.

Congratulations to $XRPC for $58 million in first-day volume, the largest of any ETF launched this year (of 900), barely ahead $BSOLThat’s $57 million. The two are in a league of their own, even though 3rd place is over $20 million. pic.twitter.com/MjsOeceeNb

– Eric Balchunas (@EricBalchunas) November 13, 2025

XRP Technical Analysis: Key Levels Under Pressure

Looking at the XRP/USDT chart, the coin’s price entered a pressure zone after the 8% sell-off. Currently, XRP is hovering around $2.29, with a wide range for the day between $2.28 and $2.52.

XRP price is below both the 50-day simple moving average (SMA) at $2.56 and the 200-day SMA at $2.63, which now act as resistance levels. Critical support exists around the $2.15 to $2.28 area, highlighted by repeated price bounces in the yellow box of the chart.

XRPUSDT analysis source: Tradingview

If the price closes permanently below $2.28, the next strong support zone will be at the $1.60 level (the 0.618 Fibonacci retracement), and further decline could bring XRP closer to $1.25, a key all-time low.

On the positive side, the return of the 50-day and 200-day SMAs ($2.56 and $2.63) could open the door to $2.72 (the .236 Fibonacci level) and $3.09, but the trajectory is uncertain unless sentiment reverses quickly.​

The RSI is near 43, showing that the price is not yet oversold, while the MACD and CMF remain stable to negative, indicating weak momentum and no immediate reversal trigger.​

If volume remains high but price fails to quickly regain these moving averages, traders could see further declines towards the stronger supports of $2.15 and $1.60. But if buyers step in, perhaps triggered by a new influx into ETFs or improved sentiment, the potential for a rebound above $2.50 returns quickly.

Eyes now turn to whether ETF momentum and deeper accumulation can keep XRP near its recent lows, or if further price declines are in store before the market finds its next upside catalyst.

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