The launch of the Teucrium 2x Long Daily XRP ETF (XXRP) has taken the market by surprise with a solid performance on its debut, clocking in an impressive $5 million in trading volume on day one. Bloomberg’s senior ETF analyst, Eric Balchunas, hailed the launch as “very respectable,” noting that it now ranks among the top 5% of ETF debuts based on first-day volume.
In comparison, XXRP has already outshined the recently introduced 2x Solana ETF by Volatility Shares — an early signal that XRP continues to command strong attention despite being the subject of mixed sentiment within the crypto community.
$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
Deaton Defends XRP’s Market Position
John Deaton, a vocal advocate for XRP and former U.S. Senate candidate, took to X to highlight what he sees as the broader market’s underestimation of XRP’s value. “Even though many in the crypto world have written off XRP, I’ve always believed it has far more appeal than the industry is willing to admit,” Deaton remarked.
His statement echoes a growing perspective that XRP’s position in the market may be undervalued, especially when considering its legal clarity in the U.S., institutional interest, and now, its inclusion in a leveraged ETF product.
A First-of-Its-Kind Trading Vehicle
This newly launched ETF marks a major milestone as the first U.S.-listed product offering 2x leveraged exposure to XRP through derivatives such as swaps. Designed primarily for traders aiming to capitalize on short-term price swings, the XXRP ETF opens the door to speculative plays without requiring direct crypto custody — an attractive alternative for many institutional and retail traders alike.
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Price Action and Market Sentiment
Despite the ETF’s strong start, XRP’s price has been under pressure. The token has dropped more than 5% in the last 24 hours, continuing its struggle to rebound even after Ripple’s recent acquisition announcement — a deal some expected would inject bullish momentum into the market.
Still, market observers believe the launch of XXRP could play a bigger role in shaping XRP’s trajectory in the coming months. The combination of enhanced trading access, strong debut volume, and resilient community support may ultimately help shift sentiment back in XRP’s favor.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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