The world’s first spot $XRP ETF has fallen nearly 45% from its all-time high, pointing to continued volatility surrounding the cryptocurrency, which has struggled to break above key resistance levels.
In this regard, Hashdex Nasdaq $XRP Fundo de Índice (XRPH11), listed on Brazil’s B3 exchange, closed at $2.11 on Friday, marking a 44.45% decline from its peak.
Launched in April 2025, XRPH11 became the first spot $XRP ETF to offer direct exposure to the cryptocurrency through a regulated exchange-traded fund structure. The fund tracks the Nasdaq $XRP Reference Price Index and holds $XRP directly.
After surging in the months following its launch, the ETF entered a prolonged downturn that accelerated throughout 2026. The fund is now down more than 57% over the past year and about 31% year-to-date.
While Brazil pioneered the spot $XRP ETF market, larger North American markets quickly overtook it.
Canada launched its first spot $XRP ETFs in June 2025, with Purpose Investments introducing XRPP and 3iQ listing XRPQ on the Toronto Stock Exchange. Both products provided regulated $XRP exposure through institutional-grade custody solutions.
The United States followed later in 2025 with several spot $XRP ETF launches. Products from REX-Osprey, Canary Capital, Bitwise, Grayscale, Franklin Templeton, and 21Shares expanded investor access to $XRP through traditional brokerage accounts.
By 2026, seven spot $XRP ETFs were trading in the U.S., collectively attracting approximately $1.5 billion in cumulative net inflows and holding more than 1 billion $XRP tokens in custody.
Impact on $XRP price
Despite being the first product of its kind, XRPH11 has had limited influence on $XRP price discovery compared to its North American counterparts.
The Brazilian $XRP investment fund attracted relatively modest assets, while institutional capital and trading volumes increasingly shifted toward larger U.S. and Canadian products.
At the same time, $XRP’s broader market volatility and continued token releases from escrow weighed on sentiment.
By press time, $XRP was trading at $1.38, down about 2.5% over the past 24 hours. On the weekly timeframe, the asset had declined nearly 7%.
Overall, $XRP’s recent momentum has been pressured by the broader cryptocurrency market retreat.
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