Teucrium’s XRP ETF Shocks Bearish Market with $5M Debut: XRP Reclaims $2

In the latest XRP news, Teucrium’s newly launched 2x XRP ETF, XXRP, has shocked the market with an impressive opening day. The ETF recorded $5.43 million in trading volume on its first day. This comes as an impressive achievement given that XRP prices had just hit a 5-month low. The ETF was also launched amid a highly bearish market. Bloomberg Senior ETF analyst Eric Balchunas described the performance as “very respectable” considering these conditions.

XRP Hits 5-Month Low, XXRP Sparks Interest

According to the charts, XRP dropped to $1.61 during the Black Monday crash. However, the price recovered quickly, to again fall to $1.69. Even with this volatility, Teucrium decided to go all in with the XRP ETF launch. Eric Balchunas took to X (previously Twitter) to announce this exceptional performance.

$XXRP (2x XRP ETF) saw $5mil in volume on Day One, very respectable, esp considering the mkt conditions. That puts it in approx top 5% of new ETF launches, and about 4x what the 2x Solana ETF $SOLT did (altho both 200x less than King IBIT). pic.twitter.com/u3QQq5yuHv

— Eric Balchunas (@EricBalchunas) April 8, 2025

The XXRP ETF has also outperformed other similar products. For instance, XXRP had four times the trading volume compared to Solana’s 2x ETF on its launch day. This makes Teucrium’s product a part of the top 5% of new ETF launches. However, its trading volume is being overshadowed by BlackRock’s Bitcoin ETF launch. 

Altcoin Community Erupts, Enthusiastic Despite Market Losses

The community has welcomed the XRP ETF launch, considering the bearish market conditions. Data show that 137,000 traded liquidated their positions after the launch, with total losses exceeding $413 million across the entire market. Some XRP enthusiasts have also claimed that while XXRP’s volume was much lower compared to the Bitcoin ETF, a potential spot XRP ETF could provide stronger competition.  

However, famous community member Crypto Eri warned people about the ETF’s built-in risk factors. He noted that even if XRP’s price stays flat, the volatility could cause losses. Given the latest market conditions, Teucrium’s bold XRP ETF launch has paid off massively. With significant buzz gathering around. Let’s take a look at the detailed price analysis of XRP to understand what patterns are emerging.

XRP Price Analysis: XRP  Reclaims $2, Skyward Spike Boosts Recovery

The massive interest in XRP seems to be doing wonders, as XRP returned to $2 today after the crypto market crash on Monday. XRP began trading yesterday at $1.79. XRP’s early upward movements faced strict resistance at the $1.8 mark. However, after a slight correction, the XRP price ascended confidently. The uptrend went on to break the resistance, but couldn’t progress further. The uptrend lost steam, and XRP now faced resistance at the $1.846 level. XRP resorted to a similar pattern. It underwent a slight downtrend, finding support at $1.76. Then, it formed a stable uptrend, taking it up and above the resistance. 

Chart 1: published on TradingView, April 10, 2025

However, just as XRP price drew close to the resistance, a golden cross formed. The golden cross widened as soon as XRP broke the resistance, launching the XRP price sky high, as it climbed to $2.085 within an hour. This skyward launch led the RSI into the overbought zone, and the XRP price faced a correction. However, an upward trend followed, finding resistance at $2.09. Subsequently, the XRP price fell to the $1.97 support. Since then, XRP has attempted to move upwards, but faces strict resistance at $2.018.

XRP Price Prediction: Can XRP Break Above $2?

XRP’s comeback to $2 is a big win for its journey. As of the latest update, the price is alternating around the $2 mark. If it fails to find an upward breakout soon, it will end up breaching support, effectively reversing some of its progress. Given that the RSI is reacting quickly to the uptrend, nearing overbought zones with slight advances, it is highly likely that a support break is on the cards. If that does happen, the XRP price would look up to a $1.9 support.