Grayscale’s GXRP ETF Debut Fails to Boost XRP, Which Drops to $2.08

XRP Slips Toward $2.08 Despite Grayscale GXRP ETF Launch

XRP fell to $2.08 as Grayscale launched its Grayscale XRP Trust ETF (GXRP) on NYSE Arca, offering investors direct exposure to the token. Traders are watching the $2.03 support level closely, with a breakdown potentially opening the way to $1.91.

GXRP, originally a private placement in September 2024, was converted into a spot ETF alongside Grayscale’s new Dogecoin product. Krista Lynch, Grayscale’s Senior VP of ETF Capital Markets, called the launch “a meaningful step in broadening access to the growing XRP ecosystem” for both retail and institutional investors.

The new ETF adds to a growing list of XRP-based products from Canary Capital, REX Shares, and other issuers filing under Section 8(a) for automatic approval. The development highlights strong institutional demand for regulated XRP exposure, even as the token remains the fourth-largest cryptocurrency by market cap.

XRP’s regulatory past continues to influence the market. The SEC previously accused Ripple of $1.3 billion in unregistered sales. A 2023 federal ruling deemed programmatic exchange sales compliant, though direct institutional sales were classified as securities. This partial clarity has helped encourage institutional adoption, but near-term price moves remain largely driven by technical factors.

Through Tuesday’s session, XRP traded in a volatile range of $2.03–$2.15, declining from $2.13 as profit-taking and weak spot flows outweighed the ETF launch.

Levels to Watch:

A breakdown below $2.03 could target $1.91 and $1.78 if broader market risk-off intensifies.
Sustained ETF inflows are critical for translating institutional interest into spot-market support.
Resistance near $2.20–$2.24 must hold for bulls to regain control.
Bitcoin weakness can pressure XRP, making it harder to hold $2.00.
Renewed exchange inflows from whales could trigger immediate downside.

Despite growing institutional infrastructure, XRP’s spot market is currently more influenced by technical pressure than ETF fundamentals.