US XRP ETF Loses 6% on Market Opening: Golden Opportunity?

America’s first XRP ETF has just undergone its first real stress test, and the numbers tell the story. After opening at $25.17, the REX Osprey XRP ETF was dragged straight into the red, hitting lows of $23.57 before stabilizing at around $23.62 — a 6% loss in the opening stretch, representing its lowest level since launch. 

With only 131,000 shares traded compared to an average of one million, liquidity dried up quickly, leaving investors wondering whether this was a normal correction or the beginning of a larger decline.

On paper, the fund still holds $10.48 million in assets and has 425,000 outstanding shares, with NAV marked at $24.75 on Sept. 19. The discount of -0.31% shows that tracking is not broken, but the violent repricing is hard to ignore.

This kind of movement in the first week of trading suggests that the initial inflows were mostly speculative capital rather than stable institutional demand. When the bids thinned out, the ETF broke down.

For whom is this trap?

The spot market did not offer any reassurance to bulls either. XRP on Bitstamp collapsed to $2.70 before recovering above $2.85 — a swing of almost 6% in hours — almost exactly matching the ETF’s movements.

The short-term chart still shows tough resistance at $2.90 and $2.99, and unless these levels are overcome, buyers will essentially be fighting a losing battle.

For traders looking for opportunities, the situation is clear: you can buy the first ever U.S. XRP ETF at a discount when the underlying token is recovering from a local decline. For skeptics, however, it is a textbook trap: a low-volume ETF that opened strongly and cooled down quickly, while the asset it represents is stuck in a downtrend.