▲ XRP ETF / ChatGPT-generated image ©

The world’s first XRP (XRP, Ripple) spot ETF, launched amid great anticipation, has suffered a painful performance record, plunging about 45% since its debut amid extreme volatility. Although it made an ambitious entrance into the Brazilian market, it has coincided with a persistent price downturn, inflicting significant losses on investors.

According to cryptocurrency-focused outlet Finbold on March 8 (local time), the fund traded on Brazil’s main stock exchange closed Friday down 3.7% at $2.13. It has recorded a 30.5% loss year-to-date and is down 44% from its all-time high. Tracking the Nasdaq XRP Reference Price Index, the product has direct exposure to the token, leaving it fully exposed to the asset’s price decline.

The product received approval from Brazil’s securities regulator in February 2025 and began trading on April 25 of the same year as the world’s first spot XRP ETF. While it provided regulated market access to retail and institutional investors, its limitation to the domestic Brazilian market prevented it from generating meaningful buying pressure capable of driving substantial trading volume. Combined with traditional financial settlement delays, periodic escrow releases of XRP supply, and macroeconomic headwinds, a supply-driven rally failed to materialize.

In contrast, products launched later in the North American market demonstrated markedly different influence. In June 2025, Canada approved products such as the Purpose XRP ETF, drawing institutional participation, while in the United States, firms including Canary Capital, Bitwise, Grayscale, Franklin Templeton, and 21Shares introduced similar offerings. Products in the world’s largest financial market, the U.S., have recorded consistent capital inflows backed by substantial institutional funding.

Despite this, XRP’s price continues to struggle in line with overall market sentiment. At the time of reporting, it was trading at $1.36, significantly below its 50-day simple moving average of $1.57. In particular, the wide gap with the 200-day simple moving average of $2.20 signals that a long-term bearish structure has taken hold. The 14-day Relative Strength Index (RSI) stands at 41.81, lingering near the lower end of the neutral range, indicating that a trend reversal remains unlikely without sustained buying pressure.

*Disclaimer: This article is provided for investment reference purposes only, and we are not responsible for any investment losses arising from its use. The content should be interpreted solely for informational purposes.*

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