The debut of a dedicated spot XRP exchange-traded fund (ETF) in the US last Thursday marked a significant milestone for Ripple and XRP, with CEO Brad Garlinghouse celebrating its launch. Canary Capital’s inaugural ETF attracted substantial investments on its first day, hinting at potential trading frenzy that could push prices higher. However, the XRP price has declined by approximately 3% over the past 24 hours, defying expectations and falling nearly 37% below its all-time high of $3.65 set in July. This decline contrasts with bullish predictions surrounding the ETF’s launch. Analysts attribute this drop to broader market turbulence, fueled by a recent cryptocurrency market slump.