Canary Capital's spot XRP exchange-traded fund recorded approximately $58 million in trading volume on its first day, setting a 2025 record for new ETF debuts, according to Bloomberg ETF analyst Eric Balchunas. XRP closed the session at $2.31, down 2.3%. Crypto strategist Xoom stated that ETF approval alone cannot drive XRP to $10 or $100, emphasizing that sustained price growth depends on real-world adoption and integration into payment networks.

XRP reserves on Binance declined to approximately 2.785 billion tokens by November 12, 2025, marking near multi-month lows. Exchange-wide XRP balances have fallen roughly 3.4% since early October. JPMorgan analysts project $4.3 billion to $8.4 billion in potential inflows to spot XRP ETFs during their first year of trading.