#XRPSpotETFs XRP Spot ETF Approved, But Why Is the Price Falling? Here Are the Opinions

Despite the fact that XRP spot ETFs have finally started trading in the USA, negative price movements continue in the XRP price.
This week was seen as a "big moment" for XRP associated with Ripple. After years of applications, a private spot XRP exchange-traded fund started trading on Thursday for the first time in the U.S.

Ripple CEO Brad Garlinghouse celebrated the launch by saying, "It's finally happening!"
The new spot XRP ETF issued by Canary Capital made a strong start on paper. It attracted approximately $250 million in investments on its first day, and analysts predicted that the ETF could create a trading frenzy that reaches $5 billion in its first months. This demand was expected to push the price of XRP upwards.
However, contrary to expectations, the XRP price has decreased by about 3% in the last 24 hours. It is still trading at 37% below its all-time high of $3.65 reached in July.
According to analysts, the root of the problem actually lies in a broader market shock. On October 7, the cryptocurrency market peaked at a total value of $4.3 trillion. However, just a few days later, the picture completely reversed.
On October 10, leveraged positions worth 19 billion dollars were liquidated in just one day. This decline led to the erasure of approximately 1 trillion dollars from the total market capitalization over the following month, which is about one-fifth of all crypto assets.

Although there was a brief recovery at the beginning of the week with the end of the U.S. government shutdown, the $870 million sell-off from Bitcoin ETFs on Thursday increased pressure once again. On the same day, Bitcoin fell below $100,000 for the third time this month.
Max Gokhman, Vice President of Franklin Templeton Investment Solutions, stated the following in an interview with Bloomberg.

The current selling wave is completely correlated with risk assets. However, due to higher volatility in the crypto market, the magnitude of the movement is also sharper. Until a broader institutional participation spreads beyond Bitcoin and ETH, the sensitivity of crypto to macro risks will remain high.
Some market experts indicate that a resurgence in the crypto market could be seen as long as there are no new negative developments. However, the first week of the XRP ETF showed how quickly launch expectations can be overshadowed by market realities.
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