XRP Slips Below $2! ETFs in Turmoil 🚨

by

O, ye humble Bitwise XRP ETF! Thy first trading day did witness 1,127,647 shares, a sum of $25.93 million, which, in the grand scheme of things, is naught but a drop in the ocean of financial chaos. Yet, lo! Canary’s XRPC ETF, with its $58.5 million, doth mock thee, as a jester mocks a king. 🤡💸

Canary’s CEO, Steven McClurg, did publicly commend Bitwise, declaring that “ye need not be BlackRock to launch the top ETFs of 2025!” A noble sentiment, yet one cannot help but wonder if he whispered, “As long as ye do not oust me from the throne.” 🏰👑

First close on Bitwise XRP ETF

– 1,127,647 -> $25,935,881

Close on Canary XRPC

– 812,392 -> $17,466,428

– Chad Steingraber (@ChadSteingraber) November 20, 2025

Though Bitwise’s debut was but a timid squeak, analysts, those ever-optimistic fools, claim it may roar on Day 2. Aye, as likely as a snowball’s chance in hell! 🧊🔥

A Market Meltdown Overshadows the Launch

The XRP ETF’s debut collided with a market crash so violent, it could make a saint weep. The S&P 500, that fickle lover, shed $1.5 trillion in a single day. Bitcoin, once a titan, now cowers at $87,000, triggering liquidations like a tragic opera. 📉🎭

The crypto market cap, that elusive dream, dipped below $2.95 trillion, crushing altcoins under its weight. XRP, that once-proud token, now slinks beneath $2, as though ashamed of its own existence. 😢

XRP Extends Multi-Month Breakdown

XRP’s price, a tale of woe, has been unraveling for months. Today’s crash plunged it into a danger zone, where even the bravest analysts tremble. “A bearish reversal!” they cry, as if it were a curse from a witch. 🐻‍❄️

The weekly timeframe, that cruel judge, sees a bearish divergence. The daily RSI, that faithful indicator, now breaks below previous lows, rendering bullish hopes as futile as a moth’s flirtation with a flame. 🔥🪳

At present, $2 stands as the last bastion. A daily close below? A retest of $1.80, then $1.60, if the sellers grow bolder. A descent into the abyss, one step at a time. 🕳️

Read More

2025-11-21 06:08