World’s first spot XRP crashes almost 10% in a week 
Cryptocurrency May 6, 2025 Share
Summary
⚈ The world’s first spot XRP ETF has dropped 10% in its debut week amid market volatility.
⚈ U.S. SEC has delayed the XRP ETF decision to June 2025, possibly tied to the Ripple case timeline.
⚈ Approval odds sit at 74% as XRP futures ETFs await May launch.
The world’s first spot XRP exchange-traded fund (ETF), listed under the ticker XRPH11 on Brazil’s B3 stock exchange, is off to a rocky start, tumbling nearly 10% over the past week.
The XRP HASH CI ETF closed the May 5 trading session at R$19.30 ($3.47), ending the day down 3.5%. Over the past five trading sessions, the ETF has dropped by 8.70% amid a broader cryptocurrency market volatility.
XRPH11 all-time price chart. Source: TradingView
Despite a promising debut, the ETF has struggled to gain momentum, facing headwinds from the relatively small Brazilian market and mounting selling pressure on XRP.
As of press time, XRP was trading at $2.10, down over 4% in the last 24 hours. On the weekly chart, its 8.75% decline closely mirrors the losses seen in the ETF.
XRP seven-day price chart. Source: Finbold
While the spot ETF lacks momentum, monitoring how the product performs if and when XRP stages a recovery will be important, especially if the United States eventually follows suit and approves a similar product.
Spot XRP ETF approval in the U.S.
On that note, the U.S. Securities and Exchange Commission (SEC) recently delayed its decision on Franklin Templeton’s proposed spot XRP ETF to June 17, 2025.
Notably, this new date comes just two days after the SEC is required to file a status update in its appeal of Ripple’s partial legal victory in 2023.
Legal analysts believe the timing may be strategic, potentially giving the agency room to settle the lawsuit before making a final decision on the ETF.
In addition, the SEC is reviewing other XRP spot ETF applications, with decisions expected by mid-October 2025.
Meanwhile, market participants are growing increasingly confident that approval will happen before the end of the year. According to prediction market Polymarket, as of May 6, the odds of an XRP ETF approval stood at 74%.
XRP ETF approval odds for 2025. Source: Polymarket
While a U.S. spot XRP ETF remains unapproved for now, the SEC has already greenlit three XRP futures ETFs from ProShares. These were initially rumored to launch on April 30; however, ProShares clarified that the rollout was delayed and is now tentatively scheduled for May 14, pending final SEC approval.
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